EQT, the leading Scandinavian private equity fund co-sponsored by Investor AB has today, through its Danish fund, signed an agreement to acquire CreditInform, Norway's leading credit and market information company. Simultaneously, EQT has created the Nordic Info Group, which will be the holding company for EQT's three credit and market information companies. The price has been agreed as NOK 212 million in cash. In addition to this up-front price, an additional consideration has been agreed provided that CreditInform achieves certain future revenue targets. The seller, Oslo-listed Blom ASA, will focus on its core business within land and industrial surveying, mapping, and maritime information.
CreditInform develops and sells products and services relating to credit and market information. The company has a strong position in the Norwegian market, serving businesses with credit information on companies and individuals and market information relating to numerous industries. In addition, the company has export sales and cooperative agreements that extends the business outside the borders of Norway.
It is EQT's objective to operate the company together with RKI Kredit Information and Købmandstandens OplysningsBureau ("Købmandstanden"), which were acquired by EQT in 1999 and both of which are based in Denmark. The three companies will be operated side-by-side and form the Nordic Info Group.
The companies will focus on further expansion by e.g. jointly developing products to better serve the Danish and Norwegian markets. EQT believes that such strenghtened cooperation should form an entity that serves its present and new customers better and which positions all three companies well for further geographical expansion.
Mr. Kristen Bager, CEO of Nordic Info Group, comments on the transaction: "The driving force behind the formation of the Nordic Info Group is to create the leading credit, market and business information company within the Nordic region. The Nordic Info Group will thus be able to develop new attractive products and services by leveraging the expertise of the respective companies. By including CreditInform in the Nordic Info Group, CreditInform will get access to necesary capital and be positioned in a structural environment where the company can continue its successful development".
Mr. Claes Dahlbäck, Chairman of EQT, adds "Similarly to the credit and market information companies that EQT has acquired in Denmark, CreditInform has a strong local market position in an industry that is increasingly expanding across borders. By forging the cooperation between CreditInform, RKI Kredit Information, and Købmandstanden, all three companies are strengthened in their home markets and the Nordic Info Group will provide a platform for further growth also outside their home markets. EQT intends to invest in and develop the companies in order to capture their full potential both in and outside Norway and Denmark."
It is EQT's intention to further grow the Nordic Info Group both organically within the current business models, via changes in those models, e.g. by more proactively utilising the internet as a marketing and distribution tool, and through selective acquisitions. The Board of Directors of the Nordic Info Group includes Mr. Björn Svedberg (formerly CEO of Ericsson and SE-Banken) as Chairman and Mr. Preben Damgaard (CEO of Damgaard Data), Mr. Ove Engelbrecht (formerly CEO of KOB Holding), Mr. Bjørn Høi Jensen (Partner of EQT Partners), and Jens Christian Lorenzen (CEO of Otto Mønsted) as Directors.
EQT is a group of four private equity funds with equity commitments totalling SEK 11 billion. Since its inception in 1994, EQT has successfully concluded investments in 22 companies. EQT Partners, acting as investment advisor to all EQT funds, has offices in Stockholm, Copenhagen, Helsinki and Munich. EQT realises its business concept by acquiring high quality companies in a variety of industries and serving as an active owner in close co-operation with the management of the companies it acquires.
For additional information you are welcome to contact:
Claes Dahlbäck, Chairman, EQT Danmark B.V.
+31-20-577 66 57
Kristen Bager, CEO, Nordic Info Group A/S:
+45-40-51 12 60
Bjørn Høi Jensen, Partner, EQT Partners A/S, Copenhagen
+45-33-12 12 36