Nordic-focused private equity investor CapMan has bought 63 per cent of digital communications company The North Alliance.
The business comprises seven companies including Swedish agencies Åkestam Holst, Great Works and Bold and Norwegian design and technology company making waves.
TNA’s combined turnover is more than €50m, and it currently employs 450 people in Stockholm, Oslo, Copenhagen, New York and Krakow.
CapMan Buyout partner Espen Stenumgård said, “NOA combines the best creative players in their respective fields to form a unique group with a distinct service portfolio and a highly competitive market position.
“The group will be positioned towards the high growth digital segment providing significant market growth potential. CapMan’s Nordic heritage and experience from similar investments make us an ideal partner for NOA.
“The network structure allows us to expand operations within each country while taking advantage of attractive cross selling opportunities.
“We also see potential to grow through additional M&A activity.”
In September last year CapMan 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.
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