A Nordic Capital investment vehicle has announced it 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.
According to the parties, the 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.
“Vizrt is an exciting company that has consistently performed during Nordic Capital’s ownership. 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,” said Fredrik Näslund, partner and head of technology and payments at Nordic Capital Advisors.
“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.”
Financial details were not disclosed, with completion of the transaction remaining subject to certain conditions such as satisfactory clearance from relevant anti-trust authorities.