At what enterprise value was VISMA GROUP acquired in 2017?

During the acquisition of VISMA GROUP by HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICG in 2017, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b NOK. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.4x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of VISMA GROUP when it was acquired by HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICG?

The estimated EV/EBITDA multiple for VISMA GROUP is in the range of Above 20x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.4x. Join our community for free to access full valuation data and industry trends.

When was VISMA GROUP acquired by HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICG?

VISMA GROUP was acquired by HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICG in 2017.

What was the revenue of VISMA GROUP at the time of the deal?

The revenue of VISMA GROUP at the time of the deal is estimated to be in the range of 5b - 100b NOK. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of VISMA GROUP during the acquisition?

VISMA GROUP's EBITDA is estimated to be in the range of 1b - 3b NOK. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the VISMA GROUP acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the VISMA GROUP deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://hgcapital.com/insights/hg-leads-usd5-3bn-buyout-of-visma

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Home Database TMT (Tech, Media, Telecom)VISMA GROUP

06/2017

HG CAPITAL, GIC, MONTAGU PRIVATE EQUITY & ICG take majority stake in VISMA GROUP

NORWAY Software / ERP, HR & Finance EV 3b - 100b NOK

Context

HgCapital is leading a buying investor group to orchestrate a major equity restructuring of Nordic and Benelux software provider Visma. The transaction facilitates the full exit of KKR after a seven-year investment cycle and allows HgCapital to increase its ownership stake to 41%. The reconstituted shareholder structure introduces GIC (Singapore’s sovereign wealth fund), Montagu, and ICG as significant minority investors, while Cinven divests a portion of its holdings to retain a 17% stake. Visma’s management team will also roll over equity to maintain a 7% interest. Subject to regulatory approvals, this buyout builds upon HgCapital's long-term stewardship of the asset, which began with a public-to-private delisting in 2006 and was subsequently adjusted in 2014. This new LBO will leverage this expanded global institutional network to accelerate pan-European market expansion and drive Visma's ultimate transformation into a pure cloud computing (SaaS) business.

In the past, the company had already been the subject of several LBOs, notably led by Kkr in 2010 and Hg Capital / Kkr / Cinven in 2014. This succession of buyouts highlights the strong attractiveness of the company's business model.

VISMA GROUP, which reported an EBITDA margin of LOGIN in 2016, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.4x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Visma Group Holdings is a leading software and business process outsourcing (BPO) services provider in the Nordic region, offering accounting, resource planning, and payroll solutions for small and medium-sized enterprises. Founded in 1996, Visma has become one of the largest software and SaaS service providers in Europe, with an extensive presence across the Nordic region. The company provides a comprehensive range of products and services, from financial management solutions to payroll and human resource services, designed to help businesses improve operational efficiency and reduce costs. With an experienced management team and a strong reputation for quality and reliability, Visma is well-positioned to continue growing and innovating in the software and SaaS services sector.

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
12/2023	HG CAPITAL	VISMA GROUP	NORWAY	Software	Private equity sponsor Hg has agreed to a further investment to cement its majority ownership position in cloud software provider Visma. This equity syndication broadens the shareholder base through a secondary sale, welcoming approximately 20 new institutional backers, including Altaroc, Jane Street, and the NYC Retirement System
04/2014	HG CAPITAL / KKR / CINVEN	VISMA GROUP	NORWAY	Software	KKR is partially exiting its controlling stake in Nordic software group Visma. This equity reshuffle enables HgCapital to reinvest through its HgCapital 7 fund and the listed HgCapital Trust, while bringing Cinven on board as a new equity partner
09/2010	KKR	VISMA GROUP	NORWAY	Software	Private equity firm HgCapital has entered into a definitive agreement to sell a 63.5% portion of its stake in Nordic software provider Visma to global investment firm KKR. Through this partial realization, which is subject to customary regulatory clearance and expected to close in November 2010, HgCapital will retain a 17
05/2006	HG CAPITAL	VISMA GROUP	NORWAY	Software	Following the collapse of a competing bid from business software group Sage, European mid-market investor HgCapital has launched a cash offer to acquire all outstanding shares of Visma. Executed through the designated acquisition vehicle Engel Holding, the transaction is structured as a public-to-private buyout that will result in the delisting of the Norwegian accounting software group from the Oslo Stock Exchange

REFERENCES

Valuation range: EV 3b - 100b NOK

Revenue range: 5b - 100b NOK

EBITDA range: 1b - 3b NOK

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of VISMA GROUP by HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICG are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: visma group

Acquirer: montagu private equity / gic / hg capital / icg