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Nordic Capital has acquired a 9.96 percent stake in Swedish bank Nordax. No financial terms were disclosed.

PRESS RELEASE

Nordic Capital Fund VIII (“the Fund”) has acquired 9.96% of the listed shares in Nordax Group AB (publ) (“Nordax”). In addition the Fund has entered into a call option agreement which entitles Nordic Capital Fund VIII to acquire an additional 5.04% of the shares, subject to approval by the Swedish Financial Supervisory Authority.

Established in 2003 and operating from a centralised platform in Stockholm, Nordax is a leading niche bank in Northern Europe with approximately 120,000 loan customers and 28,000 savings customers. Nordax is focused on large, long duration personal loans and deposit accounts. Nordax was listed on Nasdaq Stockholm on 17 June 2015 and currently has a total market capitalisation of approximately SEK 5bn (based on the last price paid for the Nordax share on 12 October 2017).

Nordic Capital[1] is one of the longest established and most active private equity investors in the Nordic region, investing in five core sectors comprising Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail. Nordic Capital has a strong track record from investments in the financial services sector, including Resurs Bank, Lindorff and Nordnet. Nordic Capital holds majority or minority positions in private or public companies, and typically acts as an active owner, contributing to the long term development of the company through representation on the Board of Directors.

“Nordic Capital has extensive experience and an excellent track record in the financial services sector, and sees Nordax as an interesting company with strong potential and a great management team. There is rapid underlying growth in this market niche and opportunity for companies like Nordax to take new steps in digitalization and product development. Nordic Capital has strong expertise in these areas and looks forward to becoming a committed shareholder in Nordax” says Kristoffer Melinder, Managing Partner, NC Advisory AB, advisor to the Nordic Capital Funds.

The transaction was executed by way of a reversed book building process where a total of 15% of the capital was acquired by Nordic Capital (9.96%) and Carnegie Investment Bank AB (“Carnegie”) (5.04%). Nordic Capital has entered into a call option arrangement with Carnegie to which Nordic Capital has the right to acquire all of the Nordax shares currently held by Carnegie. It is the intention of Nordic Capital to exercise this call option upon receipt of necessary approvals from the SFSA. Until SFSA approval has been obtained, and prior to any exercise of the call option, there will be no voting cooperation, veto rights or other agreements or understandings between Nordic Capital and Carnegie as regards exercise of influence over Nordax. A filing for SFSA approval that will give Nordic Capital the right to exercise the option will be made today.

About Nordic CapitalNordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

[1] Nordic Capital refers to Nordic Capital Fund VIII and any, or all, of its predecessor funds depending on the context.