Nordic Finance was founded in 2007 by Christian Hanson and Tony Kirmo and has its headquarters in Stockholm. The company helps other companies with financing by leasing and renting. The company has had a fantastic growth and sales in 2017 reached about 800 MSEK.
In 2015, Christian, Tony and the other minority shareholders recruited external board members to make the company more independent. One of them is Bengt Reuthammar, who has extensive experience from management and board work. In 2016, several workshops was conducted to pave the way to new levels. This change work was called internally the NF Way 2.0. At the beginning of 2017, owners Lars Weibull AB then contacted to discuss the possibility of joining a new owner to help take the company to the next level.
The transaction process
Lars Weibull AB, together with the company, conducted a structured process with many s speculators. Both industrial within leasing and Private Equity Companies. There were also several international stakeholders from, among other things, UK and Germany. The owners ultimately chose to continue with Private Equity Company Verdane Capital Partners, which has experience in both financial services, internationalization and digitization. All these factors were important for the owners of Nordic Finance.
The Due diligence was carried out under very structured forms, leaving a lot of time on the commercial DD. For the commercial DD, Verdane hired a renowned management consultant company that assisted them. Even before signing, buyers and sellers had come a long way in their vision of creating a new leading Nordic player in corporate finance and leasing. Together with its new owner, Nordic Finance has created an aggressive growth plan where they strive to attract the best in the industry and to be the best company to cooperate with. Both Tony, Christian and the other shareholders remain as partners with Verdane Capital. Tony Kirmo has entered as CEO and Christian has changed focus to business development.
Verdane Capital contributes both with the skills and economic strength needed to take the company forward. Verdane’s fund invests in companies with strong growth potential, primarily in consumer Internet, software, energy and advanced industrial sectors. The company has invested in more than 300 fast growing companies since 2003. Verdane’s funds can invest either in a single company or in a portfolio, giving the owners fast and flexible liquidity. Following an acquisition, Verdane Capital Advisor’s work on development and growth of the company.
“In Verdane Capital we have found our dream bride and all criteria are met,” says Christian Hanson (Nordic Finance)
following the acquisition, Nordic Finance will receive two new board members – Per Nordlander (Nordnet, Avanza, Skandia) and Fredrik Månsson, Chairman of the Board (Bokredit, Emric, Hyper Island).