Nordic Capital Fund VII acquires Orc Group
Jan 31, 2012
This press release is for information purposes. It does not
constitute an offer to purchase or a solicitation of an offer to
sell securities.
Nordic Capital Fund VII
("Nordic Capital") today announced that it has acquired Orc Group
AB ("Orc"), a leading provider of technology and services to the
global financial industry, through a recommended public tender
offer. The offer was successfully completed on January 27, with an
acceptance level of 95.5 percent.
On December 19, 2011, Cidron
Delfi Intressenter AB ("Cidron Delfi Interessenter"), a company
indirectly wholly owned by Nordic Capital, announced a recommended
offer to the shareholders in Orc, listed on NASDAQ OMX Stockholm,
for SEK 86.00 in cash per share, corresponding to an aggregate
offer value for all shares in Orc of approximately SEK 2,021 mn
(approx EUR 230 mn). The offer was successfully completed on
January 27 2012, with an acceptance level of 95.5 percent.
In order to enable shareholders who
have not yet accepted the offer to tender their shares, Cidron
Delfi Intressenter has decided to extend the acceptance period
until February 14, 2012. Cidron Delfi Intressenter intends to act
to have the Orc-share de-listed from NASDAQ OMX.
"Nordic Capital has for some time
followed the development of Orc with great interest, and believes
that significant opportunities exist to further develop the
businesses within Orc under concentrated and focused ownership
outside of the stock exchange where Nordic Capital can contribute
significant capital resources as well as an active, long-term
ownership commitment. It is particularly exciting to nominate Per
E. Larsson as the new Chairman of the Board of Orc", states Fredrik
Näslund, Partner, NC Advisory AB, advisor to Nordic Capital Fund
VII.
Per E. Larsson was previously CEO of
OMX, UBS in Middle East North Africa and Borse Dubai, Chairman of
the Board of the Stockholm Stock Exchange, as well as a member of
the Board of Orc between 1997 and 2006.
"It will be fun and exciting to work
with Orc again. I have followed Orc from a distance with great
interest and I look forward to taking part in the development of
Orc in a private environment", says Per E. Larsson.
For more information about the offer
from Cidron Delfi Intressenter, please see www.cidronintressenter.com
For more information, please
contact:
Mikael Widell, Communications
Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 703 11 99 60
Mikael.widell@nordiccapital.com
About Orc Group
Orc is a leading provider of technology and services to the global
financial industry with a focus on advanced trading, market making
and brokerage. It provides solutions for trading and market access
for buy and sell-side professionals, such as investment banks,
market making and trading firms, stock exchanges, brokers,
institutional investors and hedge funds. Orc's core products
include options that are an integral part in risk management and
analysis. The company is a global company, founded in 1987, with a
local presence in every major financial centre. Orc has 400
employees and revenues in 2010 of SEK 923 mn (approx EUR 105 mn)
and an annualized contract value (ACV) at year-end 2011 of SEK 656
mn (approx EUR 75 mn). For additional information, visit
www.orc-group.com
About Nordic Capital
Since the start in 1989, Nordic Capital Private Equity Funds have
invested in large and medium sized companies, primarily in the
Nordic region. Nordic Capital creates value in its investments,
through committed ownership and by targeting strategic development
and operational improvements. The funds invest in companies in
Northern Europe and in selected investment opportunities
internationally. The most recent fund is Nordic Capital Fund VII
with EUR 4.3 billion in committed capital, principally provided by
international institutional investors, such as pension funds, asset
managers and insurance companies. Nordic Capital Funds are based in
Jersey, Channel Islands, and are advised by the NC Advisory
companies in Sweden, Denmark, Finland, Norway, Germany and the UK.
Additional information about Nordic Capital is available on
www.nordiccapital.com
About Nordic Capital Private Equity Funds
Since the start in 1989, Nordic Capital Private Equity Funds
have invested in large and medium sized companies, primarily in
Northern Europe. Through committed ownership and by targeting
strategic development and operational improvements, Nordic Capital
creates value in its investments. The funds invest in companies in
Northern Europe and in selected investment opportunities
internationally. They are based in Jersey, Channel Islands, and are
advised by the NC Advisory companies in Sweden, Denmark, Finland,
Norway, Germany and the UK. Additional information about Nordic
Capital is available through its corporate website, www.nordiccapital.com.
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