mynth
05/2006

HG CAPITAL takes majority stake in VISMA GROUP

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

Context

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.

VISMA GROUP, which reported an EBITDA margin of in 2006, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

-> 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.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (NOK)

Year
Rev
EBITDA
EBIT
2006
2005

Other operations with VISMA GROUP

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
12/2023HG CAPITALVISMA GROUPNORWAYERP, HR & Finance
06/2017HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICGVISMA GROUPNORWAYERP, HR & Finance
04/2014HG CAPITAL / KKR / CINVENVISMA GROUPNORWAYERP, HR & Finance
09/2010KKRVISMA GROUPNORWAYERP, HR & Finance

REFERENCES

Valuation range: EV 3b - 100b NOK

Revenue range: 1b - 3b NOK

EBITDA range: 250M - 500M 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 are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: visma group

Acquirer: hg capital