M&A Deal Summary

Visma Acquires Admincontrol

On October 4, 2017, Visma acquired internet software and services company Admincontrol from Herkules Capital and Armada

Acquisition Highlights
  • This is Visma’s 4th transaction in the Internet Software and Services sector.
  • This is Visma’s 9th transaction in Norway.
Investment Fate
  • Admincontrol was divested to a consortium of strategic buyers in 2025 for 398M EUR.

M&A Deal Summary

Date 2017-10-04
Target Admincontrol
Sector Internet Software and Services
Buyer(s) Visma
Sellers(s) Herkules Capital
Armada
Deal Type Add-on Acquisition

Target

Admincontrol

Oslo, Norway
Admincontrol is a provider of cloud-based board portals and virtual data room solutions. Admincontrol offers web-based solutions as well as a separate iPad and iPhone app for secure interactions and easy sharing of documents in business processes such as board and management work, due diligence, capital injections, and stock exchange listings. Admincontrol was founded in 2005 and is based in Oslo, Norway.

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Buyer(S) 1

Buyer

Visma

Oslo, Norway

Category Company
Founded 1985
Sector Software
Revenue 5.1B NOK (2013)
DESCRIPTION

Visma offers software and services that simplify and digitize core business processes in the private and public sectors. Visma was founded in 1985 and is based in Oslo, Norway.


DEAL STATS #
Overall 45 of 89
Sector: Internet Software and Services M&A 4 of 17
Type: Add-on Acquisition M&A Deals 41 of 82
Country: Norway M&A 9 of 12
Year: 2017 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-12 Bluegarden Holding A/S

Ballerup, Denmark

Bluegarden develops and offers payroll and HR administration and selected services within strategic HRM to the Scandinavian market. Bluegarden has established a leading position in the market and is today serving 65.000 customers in Denmark, Norway, and Sweden. The group has 550 employees and its net revenue amounted to 793 MDKK in 2016.The company’s headquarter is located in Ballerup, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-18 OptiWay AB

Kristianstad, Sweden

OptiWay AB delivers high quality consultancy services in geographic IT and develops geodata products on the local and international markets. The company was founded in 2005 and has since then helped customers and partners identify, define and realize their business and technological capabilities. OptiWay has 20 employees and headquarters in Kristianstad as well as offices in Malmö and Ronneby.

Buy -

Seller(S) 2

SELLER

Herkules Capital

Oslo, Norway

Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 15.1B NOK
Size Large
Type Sector Agnostic
DESCRIPTION

Herkules Capital is a private equity firm focused on acquiring controlling interests in established companies located in Norway and other Nordic countries. Herkules looks to commit NOK 100 to NOK 1200 million of equity capital per transaction and will consider investing in public and private companies. Sectors of interest include oil services, healthcare, consumer, trade/retail, services and telecom. The Firm's investment horizon is typically five to seven years. Herkules was formerly known as Fer Private Equity. The Firm is based in Lysaker, Norway.


DEAL STATS #
Overall 20 of 34
Sector: Internet Software and Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 10 of 14
Country: Norway M&A 17 of 28
Year: 2017 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-11 Beckmann

Kristiansand, Norway

Beckmann AS is a provider of school backpacks with unique value, functional and ergonomic design offering. The company offers products and services to consumers in over 20 countries and more than 50% of its revenues now come from international markets. Beckmann was formed in 1946 and is headquartered in Kristiansand, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-20 Eterni

Bergen, Norway

Eterni is one of Norway’s largest and fastest growing recruitment and staffing companies serving 1,500 customers within the education, construction, logistics and food production verticals. Eterni was founded in 2011 and is based in Bergen, Norway.

Buy -
SELLER

Armada

Helsinki, Finland

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Armada Mezzanine is an independent mezzanine firm focused on financing buyouts, recapitalizations, and expansions of small and medium-sized Nordic companies. Armada generally targets companies valued from €20 to €150 million with stable cash-flows, attractive growth opportunities, and sustainable competitive advantages. Sectors of interest include industrial products, services, and technology. Armada Mezzanine was established in 2000 and has offices in Helsinki and Stockholm.


DEAL STATS #
Overall 8 of 14
Sector: Internet Software and Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 4 of 5
Country: Norway M&A 2 of 4
Year: 2017 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-13 Silmäasema Fennica Oy

Helsinki, Finland

Silmäasema Fennica Oy provides eye care services and optician chain. Silmäasema Fennica is based in Helsinki, Finland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-27 Prosero Security Group

Stockholm, Sweden

Prosero Security Group offers project planning, installation, and service in the fields of alarms and surveillance, fire safety, and lock and access control systems. Prosero Security Group is based in Stockholm, Sweden.

Buy -