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Private equity and venture capital news from Norway

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• Nordic Capital saves Master Marine with €270m recapitalisation 06 Oct 2009. Source: AltAssets. Private equity house Nordic Capital has provided a financing package of €270m to offshore energy service company Master Marine, making it the majority owner of the company.

• Norwegian private equity firm Herkules takes 54 per cent of Projectiondesign 05 Oct 2009. Source: AltAssets. Herkules Private Equity, a Norwegian firm that invests in Nordic companies, has acquired 54 per cent of Projectiondesign’s shares from Eker Group for an undisclosed sum.

• Nordic private equity firm CapMan takes 49 per cent stake in Papa John’s Russian franchise 25 Sep 2009. Source: AltAssets. Listed private equity firm CapMan has acquired a 49 per cent stake in the master franchise of the Papa John’s pizza chain in Russia, with the aim of expanding operations in Moscow and other large Russian cities.

• Scandinavian private equity house Procuritas closes fourth fund on €139m. 14 Sep 2009. Source: AltAssets. Scandinavian private equity house Procuritas has closed its Procuritas Capital Investors IV fund on €139m.

• Venture capital firm Creandum takes stake in Norwegian TV company 28 Aug 2009. Source: AltAssets. Nordic venture capital firm Creandum has become a shareholder of Appear TV, a Norwegian broadcast technology company.

• FSN Capital Partners scores hat trick of deals 07 Aug 2009. Source: AltAssets. FSN Capital Partners, a Nordic private equity house, has just struck a number of deals, making its third, fourth and fifth investments since the firm’s launch.

• AAC Capital Partners tows in Viking Redningstjeneste stake 08 May 2009. AAC Capital Partners, the Northern European mid-market buy-out firm that spun out from Dutch banking group ABN AMRO, has acquired a "substantial stake" in Viking Redningstjeneste, a Norwegian roadside assistance company.

• Energy Ventures sets up NOK85m top-up fund 01 May 2009. Energy Ventures, a Norwegian venture capital firm focused on investments in the energy sector, has established a NOK85m (€9.8m) top-up fund, Energy Ventures (B) IS, to provide additional investment capacity to its Energy Ventures II KS fund.

• Capricorn Cleantech Fund invests €3.5m in Metallkraft 19 Dec 2008. Source: AltAssets. Capricorn Cleantech Fund has invested €3.5m in Norwegian company Metallkraft in its bid to expand the use of recycled slurry in the manufacturing of silicon solar modules.

• Herkules closes largest Norwegian private equity fund to date on NOK6bn 05 Nov 2008. Source: AltAssets. Herkules Capital, formerly known as Ferd Private Equity, has closed its third fund on NOK6bn (€690m), the hard cap of the fund. Herkules III is the largest private equity fund raised in Norway to date. It was launched in spring with an original target of NOK5bn.

• Norwegian company Tandberg ends talks with private equity investor 03 Oct 2008. Source: AltAssets. Oslo-listed video conference systems company Tandberg has ended its talks with a private equity firm because it believes that the price it would achieve in this market environment would be too low.

• Norwegian company Tandberg confirms approach by private equity firm 15 Aug 2008. Source: AltAssets. Oslo-listed video conference systems company Tandberg has confirmed that it had been approached by a private equity firm. It is not known which private equity firm has made the approach but media speculation suggests that it could be Silver Lake.

• Norwegian firm Norvestor closes Norvestor V on €236m 11 Aug 2008. Source: AltAssets. Oslo-based mid-market private equity firm Norvestor Equity has closed its fifth fund, Norvestor V, on €236m, exceeding the fund's initial target of €225m.

• HitecVision sells three Fund III investments to Cubera Private Equity 15 Jul 2008. Source: AltAssets. Norwegian private equity firm HitecVision has sold three investments from its HitecVision Private Equity III fund to Cubera Private Equity, a Norwegian secondaries specialist.

• HitecVision to invest $120m in Spring Energy Norway 24 Apr 2008. Source: AltAssets. Norway-based private equity firm HitecVision Private Equity has agreed to provide $120m in equity financing from its HitecVision V fund to Oslo oil and gas company Spring Energy Norway.

• Ferd Private Equity spins out, renames itself Herkules 17 Mar 2008. Source: AltAssets. Norway's Ferd Private Equity has renamed itself Herkules Capital to mark its independence from Ferd AS. The firm will relocate its offices to central Oslo.

• Viking Venture III holds first closing on NOK525m 29 Feb 2008. Source: AltAssets. Trondheim-based Viking Venture has held a first closing on its latest fund, Viking Venture III, on NOK525m. A second and final closing is planned for later in the year, the firm said.

• HitecVision closes $800m fund 29 Feb 2008. Source: AltAssets. HitecVision Private Equity, a Stavanger, Norway-based firm focused on growth stage investments in the oil and gas industry, has closed its latest fund, HitecVision V, on $800m, exceeding the original $600m target. The fund has been marketed to international investors since November 2007.

• Candover to sell Get to Quadrangle and GSCP-led group in NOK5.8bn deal 20 Nov 2007. Source: AltAssets. European buy-out firm Candover has agreed to sell Norwegian cable TV operator Get to a syndicate of investors led by Quadrangle Capital Partners and GS Capital Partners for NOK5.8bn ($1.07bn). The deal is Candover's first exit from its €3.5bn Candover 2005 Fund, representing a multiple of 2.2 times the original investment, generating an IRR of around 50 per cent, according to the firm.

• Norwegian firm Energy Ventures' third fund holds first closing on NOK1bn 17 Sep 2007. Source: AltAssets. Norwegian venture capital firm Energy Ventures has held a first closing on its third fund on NOK1bn (approximately $178m). The fund will focus on investments in petroleum-related technology companies.

• Warburg Pincus floats emgs 30 Mar 2007. Source: AltAssets. ElectroMagnetic GeoServices (emgs) has priced its IPO on the Oslo Stock Exchange at NOK135 per share. emgs is a provider of SBL services, a technology that enables the detection of hydrocarbons beneath the seabed prior to drilling.

• Norwegian firm HitecVision opens US office 16 Feb 2007. Source: AltAssets. HitecVision Private Equity, a private equity firm focusing on the oil and gas sector, is opening an office in Houston, Texas.

• Apax to acquire Norwegian company Telenor Satellite Services 26 Oct 2006. Source: AltAssets. Apax Partners France has agreed to buy Telenor Satellite Services from Telenor for a cash consideration of $400m.