Who owns VISMA GROUP?

VISMA GROUP has been 100% owned by HG CAPITAL since May 2006.

At what enterprise value was VISMA GROUP acquired in 2006?

During the acquisition of VISMA GROUP by HG CAPITAL in 2006, the transaction's Enterprise Value is estimated to be in the range of 3b - 100b NOK.

What was the EV/EBITDA of VISMA GROUP when it was acquired by HG CAPITAL?

The estimated EV/EBITDA multiple for VISMA GROUP is in the range of 10x - 18x.

When was VISMA GROUP acquired by HG CAPITAL?

VISMA GROUP was acquired by HG CAPITAL in 2006.

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 1b - 3b NOK.

What was the EBITDA of VISMA GROUP during the acquisition?

VISMA GROUP's EBITDA is estimated to be in the range of 250M - 500M NOK.

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://www.privateequityinternational.com/hgcapital-offers-e552m-for-norways-visma/

What is the average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026?

The average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026 is 15.1x.

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

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).

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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)
Date	Acquirer	Target	Country	Sector
12/2023	HG CAPITAL	VISMA GROUP	NORWAY	ERP, HR & Finance
06/2017	HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICG	VISMA GROUP	NORWAY	ERP, HR & Finance
04/2014	HG CAPITAL / KKR / CINVEN	VISMA GROUP	NORWAY	ERP, HR & Finance
09/2010	KKR	VISMA GROUP	NORWAY	ERP, 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