Norwegian family office Ferd Capital has sold five companies to Nordic investment house Verdane Capital, in an effort to focus on larger and more mature companies.
In a statement, Ferd Capital, owned by the Andresen family, said the sale of five software and energy companies would “free up valuable time and resources” for its new strategic direction.
The transaction includes: Danish manufacturer of network adapters Napatech; Finland’s Eniram, which produces software systems that helps vessels reduce fuel consumption; and Aspiro, which owns the Norwegian music streaming service Wimp.
Verdane Capital said the companies had global ambitions and that the firm looked forward to helping them reach their full potential using its existing networks and knowledge, bolstered through the more than 20 companies it already owns in the tech and energy sectors.
“This is a classic win-win situation,” said Trond Solberg, investment director at Ferd Capital. “We know that the companies will benefit from Verdane’s expertise and ability to fund new investments on their continued journey”.
Ferd and Verdane previously worked together in 2005, conducting a join investment in hearing systems firm Nacre, which they later sold for more than 15 times the initial investment at €99.2 million.
Since 2003, Verdane has acquired 22 portfolios with stakes in over 250 companies. They manage €700 million of committed capital.
The Andresen family has maintained a controlling stake in industrial and financial group Ferd for two centuries, managing a portfolio of around NOK 9.5 billion (€1.06 billion). Its family office, Ferd Capital, manages around 10 to 15 portfolio companies.