Financial Services

Dedicated as we are to the financial sector, we also pride ourselves on being the leading mid-market financial services advisor in the Nordics. The financial services sector involves complex business models and specialised valuation methods. Our specialised knowledge means that we can advise on the execution of many complex transactions within insurance, MGA and the financial sector in general. We master all the specialised valuation techniques used in the industry and maintain constant contact with leading international investors. This combination continues to add to our significant track record of successful transactions in the financial sector.

SELECTED TRANSACTIONS

Financial advisor to Omniveta on the sale to Multitude

The Deal

Multitude, a listed European FinTech company, has agreed to acquire Omniveta, through their business unit, CapitalBox. Omniveta is an invoice purchasing company founded in 2012 dedicated to improving lending liquidity for SMEs across Denmark. With this acquisition, CapitalBox is further expanding its market position in the area of business loans, reinforcing Multitude’s SME banking segment.

Insight

Omniveta will assume the name CapitalBox moving forward, and the team will be integrated into CapitalBox’s Danish division. This acquisition will add invoice purchasing to CapitalBox’s offering for SMEs in Denmark and an opportunity to extend the product across all the markets that CapitalBox currently serves. “We are delighted that Omniveta will be part of Multitude going forward. With the acquisition of Omniveta, we are not only strengthening CapitalBox’s position in the European market, we are also reaffirming our ambition to become the leading provider of non-bank loans in Europe,” says Jorma Jokela, CEO of Multitude. “Omniveta is the perfect add-on to our existing product offering. By combining CapitalBox and Omniveta, we are consistently expanding our business model and our added value. We will be able to make Omniveta’s expertise available not only in the Danish market, but to all our customers across Europe,” says Lasse Mäkelä, Chief Strategy and IR Officer of Multitude.

Financial advisor to RiskPoint on the minority investment from Nordic Capital

The Deal

RiskPoint Group is a global independent specialty insurance Managing General Underwriter (“MGU”) based in Copenhagen with offices in Stockholm, Oslo, Helsinki, Amsterdam, Frankfurt, Zurich, Madrid, London and New York. The Group offers a wide range of traditional a nd niche insurance solutions within the areas of Mergers & Acquisitions, Renewable Energy, Liabilities including Financial Lines and Cyber, Off – Shore Upstream, Property & Construction and Accident & Health . As one of the leading and most experienced Financ ial Services investors with deep understanding of the sector and an ability to accelerate organic and acquisitive growth, Nordic Capital will support RiskPoint’s continued growth journey in close partnership with the management team.

Insight

RiskPoint gr oup was founded in 2007 and has since then enjoyed successful and profitable growth in Europe and the U.S., focusing on providing leading underwriting, claims and operational capabilities. RiskPoint Group has built a unique global team of over 150 employee s with a strong commercial mindset and best in class service. The ability to enable the execution of strategic long – term goals while retaining the Group’s independence and partnership – controlled business model, was paramount to RiskPoint when finding the r ight investor. Likewise, the alignment of values and culture between RiskPoint and Nordic Capital were key drivers in the decision – making process.

Financial advisor to the owners of Dansk Tandforsikring and Global Dental Insurance on the majority sale to Gjensidige

The Deal

Dansk Tandforsikring insurance group, founded in 2010, is the leading dental insurer in Denmark with presence across Scandinavia. The transaction comprises insurance and service provider Dansk Tandforsikring Administration ApS (MGA) and the fully licenced insurance company Gl obal Dental Insurance A/S.

Insight

Gjensidige Forsikring ASA is a Norwegian insurance company listed on the Oslo Stock Exchange with 3,800 employees and operating income of NOK 30 billion in 2021.

Financial advisor to Further (ES) on the investment from AnaCap Financial Partners (UK)

The Deal

Further Underwriting International (“Further”) is a leading digitally enabled global niche healthcare insurance and services solutions provider. Founded in 2012 and headquartered in Madrid, Further has successfully established itself as a leading, high gro wth company in its specialty area, with business in over 30 countries through partnerships with more than 300 insurers and employer groups.

Insight

AnaCap Financial Partners is a leading specialist mid – market private equity investor in technology enabled financial services and based in London.

Financial advisor to Nordic I&P on the acquisition of Alm. Brand Liv og Pension

The Deal

Alm. Brand has today entered into a conditional agreement with Nordic I&P to sell Alm. Brand Liv og Pension at a price of DKK 1,100 million. With the acquisition of Alm. Brand Liv og Pension, Nordic I&P going forward will be able to also offer pension schemes to new customers. In connection with the transaction, Alm. Brand Forsikring has entered into a distribution agreement with Nordic I&P on the sale of pension schemes. Alm. Brand Liv og Pension is one of the market’s most well – run life insurance and pension companies with stable, high earnings and return on equity. Alm. Brand Liv og Pension had total pension assets of DKK 16.9 billion at 31 December 2020 and reported a pre – tax prof it of DKK 135 million.

Insight

The owners of Nordic I&P are also in the process of acquiring Norli Pension Livsforsikring A/S, a Danish pension company specialising in handling traditional, average – rate pension agreements. To date, Norli Pension Livsforsik ring A/S has not sold new pension schemes. Based on Alm. Brand Liv og Pension’s market position and experience in selling average – rate pension products, the buyer will in future pursue a strategy which, in addition to consolidating portfolios, will also co ver new sales of the traditional pension product. At 31 December 2020, Norli Pension Livsforsikring A/S had total pension assets of DKK 4.5 billion, and the company reported a pre – tax profit of DKK 22 million for 2020.