Visma

ICG worked closely with Hg to devise a unique financing solution in a very short timeframe. ICG took a seat on the board of Visma and has continued to support the company with additional equity financing for a number of acquisitions.

Visma is the leading provider of business software and services for accounting and administration in the Nordic region. The group comprises four business areas: Software, BPO Payroll and Accounting, Procurement and Collecting, and Retail IT Solutions. Visma has an outstanding record of sales and profit growth, having increased EBITDA from NOK305 million in 2006 to NOK684 million in 2009.

Hg initiated an IPO process in the spring of 2009 with a target completion date of March 2010. Following several strong expressions of interest by financial sponsors a limited and focused auction process was conducted over the summer. KKR acquired the business for NOK11 billion in September 2010.

• Country: Norway
• Sector: Business services
• Year: 2006
• Status: Exited investment