Welcome!

News Feed Item

Visma, Valued at NOK 21 Billion, Widens Shareholder Base

Visma Group Holdings (“Visma”), the Nordic region’s leading provider of business management software and services announced today that its shareholder structure, valuing the enterprise at NOK 21 billion, is now comprised of the private equity investors Kohlberg Kravis Roberts (“KKR”), HgCapital and Cinven as co-lead shareholders, each with an equal stake in the business; Nordic institutional investors, including Ilmarinen, the leading Finnish earnings-related pension insurer and Storebrand, the leading Norwegian life insurance and pension savings company as co-investors with private equity investors; and the Visma management including more than 200 managers.

KKR, the previous majority owner of Visma, will sell down from 76%, but retain a significant ownership of 31,3 % in the business. HgCapital, which has 16% of the shares now will sell out, but will re-invest with a new fund bringing them to 31,3%. HgCapital and KKR will partner with the new investor Cinven that also will hold 31,3%. Management of Visma will own 6% of the shares in Visma. Several Nordic institutional investors will co-invest with the private equity investors.

Through this transaction, there will be no change in the management or the strategy of Visma. The new owners want to develop Visma in accordance with the existing strategy and continue the rapid growth of Visma. High quality products and services, good customer care and innovations within cloud services to achieve business efficiency will still be the main strategy of Visma.

Oystein Moan, CEO of Visma said:

Our company is a real Nordic success story. We have built a strong track record of consistent high revenue and profit growth, supported by product innovation including cloud-based business solutions and E-government solutions. Such a journey is not possible without the right shareholder base and support. I strongly feel that the mix of private equity investors, leading institutional investors and the Visma management team serves us very well in the realization of our ambitions. I am pleased by the increasing role of the Nordic institutional investor base and find this recognises the standing of our company.”

Nic Humphries, Managing Partner and Head of TMT of HgCapital said:

“HgCapital has been a partner for Visma over the past 8 years and the company is a highly successful example of our investment focus on companies with predictable revenues and high levels of intellectual property that provide platforms for growth significantly ahead of GDP growth. We are delighted to be backing the management going forward.”

Henrik Kraft, Partner, head of the European technology and telecommunications team and head of Nordic operations of KKR said:

Quite simply, Oystein Moan and his team are creating a true Nordic Champion and we are proud to be part of the journey, supporting the team and the company in any way we can through our global network and expertise in technology.”

David Barker, Partner and Head of the TMT team at Cinven, said:

“Visma is a great business, run by a first class management team. We are very excited to be investing and will be focused on supporting the company's growth, drawing on our significant experience through our technology-related and Nordic investments."

Since taking Visma private through a public offer in 2006, management has worked closely with HgCapital and subsequently KKR to grow the business both organically and through acquisitions. During this period, Visma has built an impressive track record of growth, based on continuous investment in employment and research and development. More than 75 bolt-on acquisitions were completed and total revenues grew from NOK 2 306m in 2006 to NOK 6 452m in 2013, a compound annual growth rate of 16%. EBITDA increased from NOK 305m in 2006 to NOK 1 325m in 2013, a compound annual growth rate of 23%. Furthermore, the number of employees increased from 2,512 to 5,648 during this period of high growth.

HgCapital, KKR and the management shareholders of Visma were advised on the sale by ABG Sundal Collier, Morgan Stanley, Schjødt, Simpson Thatcher and White and Case.

About Visma

Visma is the leading provider of business management software and services in the Nordic region. The group comprises three divisions which are Visma Software SMB, Visma BPO, Visma Software GLA(Government & Large Accounts). As one of few suppliers to combine software and BPO services, Visma has been a Nordic and European consolidator as the products and services have become increasingly popular among the company’s more than 340,000 customers. Today, Visma is known for developing leading software solutions and high-quality services for satisfied customers in combination with financial strength and solid growth. The objective is to make the customers more efficient and competitive. Visma is headquartered in Oslo, Norway. The Visma Group is represented in Norway, Sweden, Denmark, Finland, the Netherlands, Romania, Lithuania and the UK. For further details, pls see www.visma.com.

About HgCapital

HgCapital is a sector expert private equity investor, supporting management teams to grow industry champions. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established market position, and which have the potential to grow faster than their market, create employment and become the leader in their industry. HgCapital’s dedicated portfolio management team provides practical support to management teams to help them realise their growth ambitions. HgCapital invests in expanding segments of the TMT, Services, Industrials, Healthcare and Renewable Energy sectors across Western Europe.

Based in London and Munich, HgCapital manages over £5 billion for some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.

About Cinven

Cinven is a leading European private equity firm focused on building world-class Europe-focused companies. Its funds invest in six key sectors: Business Services, Financial Services, Healthcare, Industrials, Consumer and Technology Media and Telecommunications (TMT).

Cinven funds acquire companies with significant operations in Europe that require an equity investment of €100 million or more. Its European focus and expertise are complemented by an ability to capitalise on global growth opportunities through its Asian office. For more information, please visit www.cinven.com

Neither the contents of Visma’s, HgCapital’s, KKR’s nor Cinvens’s websites nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.