A Nordic Capital investment vehicle is exiting its investment in Vizrt Group to a new Nordic Capital-led consortium, comprising a secondary acquisition vehicle and other Nordic Capital investment vehicles. This transaction will allow Nordic Capital, alongside the Vizrt management team, to continue to support the business and its strategy over its next ownership cycle, providing capital to further fuel the strong growth momentum.
The secondary acquisition vehicle, which forms part of the new Nordic Capital-led acquiring consortium, was established with investment vehicles managed or advised by Goldman Sachs Asset Management’s Vintage Funds, Pantheon and Coller Capital as co-leads.
Following Nordic Capital’s initial investment in 2015, Vizrt continued its innovation leadership in graphics and live production software, successfully expanded into new markets and regions and is today a global leading software provider for software defined visual storytelling solutions. During Nordic Capital’s ownership, expansion initiatives and product investments has doubled Vizrt’s revenues and accelerated organic growth leading to tripled profits. Furthermore, a top tier, globally recognised management team has been added, high calibre talent has been attracted throughout the business, and the IP video technology focus has been further enhanced with the acquisitions of NewTek and NDI.
“Vizrt is an exciting company that has consistently performed during Nordic Capital’s ownership,” said Fredrik Näslund, partner and head of technology & payments at Nordic Capital Advisors. “This transaction is an opportunity for Nordic Capital to continue to support Vizrt’s high-caliber management team and to further develop the company which has an exciting future ahead with strong growth potential. Vizrt will continue to benefit from Nordic Capital’s strong capabilities as software investor with an outstanding network and know-how in operational excellence. We are excited for Nordic Capital to have the opportunity to continue the journey together with Vizrt’s team who share the same vision of building a leading video software company which will drive the industry shift to IP and cloud adoption.”
Michael Hallén, CEO of Vizrt, added: “This continued investment validates the growth strategy we have embarked upon with Nordic Capital and is a strong endorsement of the capabilities of our team and the value we deliver for our customers every day. It will help us to better meet the evolving needs of our customers in the future by allowing us to realise our development plans, further deepening our innovative service offering.”
Technology & Payments is one of Nordic Capital’s focus sector where it is has a long and extensive history and experience of investing and supporting sustainable growth in technology software companies. To date, Nordic Capital has deployed more than EUR 5.4 billion of equity across 23 technology companies since 2001 and has significant experience in software as well as payments.
Financial terms of the transaction were not disclosed, with completion of the transaction remaining subject to certain conditions such as satisfactory clearance from relevant anti-trust authorities.