EQT Partners, the Stockholm headquartered private equity group that manages the EQT Funds, have confirmed that EQT Danmark is selling its stake in Nordic Info Group the Denmark-based credit and business information group.
In a transaction totalling E150m [DK1.1bn], EQT and other shareholders are selling the whole company to UK-based Experian Ltd on a cash and debt-free basis. Completion is expected in the next few months.
Nordic Info Group was built up by EQT during 1999 and 2000 via the acquisition of RKI, Købmandstanden and CreditInform. The three businesses provide credit and business information on companies and individuals primarily in Denmark and Norway. Over the past three years the enlarged group has grown revenues by 8 per cent per year with 2002 revenues estimated at E50m.
As a reminder that EQT prides itself in assisting portfolio companies at a strategic and operational level, the buyout firm also said that it had helped not only to continue the introduction of new products for each of the businesses but also supported the launch of new shared products and services, such as a new CRM business system.
Kristen Bager, CEO of Nordic Info Group commented: 'Our operations will be strengthened by Experian's platform and know-how, and Nordic Info Group will also complement Experian with its product offering, new product pipeline as
well as our strong Nordic market presence'.