At what enterprise value was TORGHATTEN acquired in 2020?

During the acquisition of TORGHATTEN by EQT PARTNERS in 2020, the company was valued at an estimated revenue multiple of below 5x. 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 Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of TORGHATTEN when it was acquired by EQT PARTNERS?

The exact EV/EBITDA multiple for TORGHATTEN is available on mynth capital. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

When was TORGHATTEN acquired by EQT PARTNERS?

TORGHATTEN was acquired by EQT PARTNERS in 2020.

What was the revenue of TORGHATTEN at the time of the deal?

The revenue of TORGHATTEN 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 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 TORGHATTEN 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 TORGHATTEN 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://eqtgroup.com/news/eqt-infrastructure-v-launches-offer-to-acquire-all-outstanding-shares-in-torghatten-asa-through-hati-bidco-as-with-recommendation-of-board-of-directors-of-torghatten-asa-2020-12-23

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Home Database Business ServicesTORGHATTEN

12/2020

TORGHATTEN

Acquired by

EQT PARTNERS

NORWAY Transport & Logistics / Passenger Transport / Marine Passenger EV 3b - 100b NOK

TORGHATTEN acquired by EQT PARTNERS

NORWAY Transport & Logistics / Passenger Transport / Marine Passenger EV 3b - 100b NOK

Context

The deal involves EQT Infrastructure V fund's voluntary cash offer to acquire all outstanding shares in Torghatten ASA, excluding the airline segment, through HATI BidCo AS. The offer price is set at NOK 175 per share, with an additional distribution of shares in Flyco AS to existing shareholders, valuing each Torghatten share at NOK 192. This represents a 14% premium to the last registered trading price on Norway's NOTC. The transaction is subject to certain conditions, including a minimum acceptance level of 2/3 of the issued and outstanding share capital of Torghatten, regulatory approval, and the amendment of Torghatten's articles of association. The deal is expected to support Torghatten's continued growth and sustainability efforts, with EQT Infrastructure V fund committed to providing resources and expertise to drive the company's development. The acquisition is seen as a strategic move to enhance Torghatten's market position and competitiveness, while also aligning with EQT's investment strategy and commitment to sustainable growth. The deal's success is contingent upon the satisfaction of the specified conditions, and the offer period is expected to last until February 2021, subject to extensions. The transaction is expected to have a positive impact on Torghatten's operations, enabling the company to further develop its critical services and sustainability profile, ultimately benefiting its customers, employees, and partners across Norway.

TORGHATTEN, which reported an EBITDA margin of LOGIN in 2020, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Business Services sector (11.1x).

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.

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Target

Torghatten ASA is a leading private passenger transportation company in Norway, founded in 1878. The company's core business spans sea, land, and air transportation, with a network of ferries, express boats, buses, and air traffic throughout Norway. With approximately 7000 employees and an annual revenue of around NOK 10 billion, Torghatten provides essential services, significantly shortening travel time along the Norwegian coastline. The company's operations are distributed across various subsidiaries, focusing on establishing versatile and competitive services with a long-term perspective. Torghatten's commitment to sustainability and environmental responsibility is evident in its efforts to transition to zero or low-emission transportation infrastructure, aligning with government targets and utilizing technologies such as battery, biofuel, and hybrid solutions. As a critical part of Norway's domestic transportation system, Torghatten plays a vital role in many cities and local communities, making it an integral component of the country's infrastructure.

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REFERENCES

Valuation range: EV 3b - 100b NOK

Revenue range: 5b - 100b NOK

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of TORGHATTEN by EQT PARTNERS are reserved for mynth community members. Register for free to unlock full data.

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

Press release: view release

Target: torghatten

Acquirer: eqt partners