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CapMan to exit its Nordic TV production company Nice

23 Sep 2013

Nordic buyout firm CapMan has agreed to exit its majority stake TV production group Nice Entertainment Group to Swedish broadcaster Modern Times Group.

Nice currently operates three integrated business areas including TV content production, event production and commercial production. It was founded in 2008, when CapMan acquired Finnish content production company Moskito Television from Talentum. Shortly after it was merged with Norwegian content producer Monster Entertainment.

Acquisitions in Sweden followed, including Baluba in 2009 and Titan in 2011, as well as the opening of a green field operation in Denmark, Gong, in 2009. Another green field operation, NiceDrama, was acquired in 2011. Most recently, Nice acquired event management business Norwegian Playroom in 2012.

The group’s turnover has grown from €20m to approx. €121m during the funds’ ownership.

Following the deal, Nice will become part of MTG’s content production and distribution subsidiary MTG Studios.

“In the past five years, Nice has grown from a local Finnish player into a leading Nordic content producer. We have achieved significant milestones by attracting top talent into the group and creating fantastic productions with international potential. All of this would not have been possible without extraordinarily driven and creative persons in all Nordic countries,” said Olli Liitola and Ari Tolppanen, senior partners at CapMan Buyout.

Closing of the transaction is subject to regulatory approval by the Swedish and Norwegian competition authorities and is expected by the end of October, CapMan said.

The investment in Nice was made via CapMan Buyout, the CapMan Group’s mid-market arm. It is the largest mid-market private equity team in the Nordic region, and is currently investing from CapMan Buyout X.

The fund hit a first closing of €151.8m in November and was reported to be near a final closing earlier this year on €206m.

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