Stockholm-based buyout house Nordic Capital has bought a 55 per cent stake in four Swedish consumer finance and insurance companies.
Nordic, which made the investment through its 2008 vintage buyout fund, said Resurs Bank, Solid Försäkringar, Reda Inkasso and Teleresurs will be combined into a new group with a service range covering consumer financing, profiled insurance services, contact centre services and debt collection.
The companies had a total pro forma turnover of around SEK2bn ($284m) in 2011 and total employees amounted to more than 400 pro forma in 2011.
The Bengtsson family will retain the remaining 45 per cent of the companies.
Financial terms of the deal were not disclosed.
Christian Frick, principal of Nordic Capital fund advisor NC Advisory, said, “As the leading providers of consumer financing and insurance solutions, these companies facilitate trade for consumers and retailers alike and play a key role in the Swedish retail industry.
“Nordic Capital is looking forward to working with the management team and the Bengtsson family in continuing to develop modern, customer focused services for the retail sector.”
Nordic said the companies will be combined into a new group with a service range covering consumer financing, profiled insurance services, contact centre services and debt collection, and will continue to be headquartered in Helsingborg.
The acquisition is conditional on receiving the approval of competition authorities and the Swedish Financial Supervisory Authority.
Nordic Capital hit the fundraising trail for its eighth buyout fund in April, and has once again pitched a lower management fee to potential investors.
The firm is said to be offering a 1.5 per cent management fee for Nordic Capital VIII, the same as its predecessor, which secured commitments of €4.3bn in 2008.
The firm has hired MVision Private Equity Advisors as its placement agent.
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