The Belgian government has released a new compromise - Unquote

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expansion unquote EXPANSION Telepo AB €10m Location Stockholm Sector Software Founded 2004 IGC and Accel provide €10m for Telepo Transaction Investor Growth Capital (IGC) and Accel Partners have invested €10m in Swedish software provider Telepo AB. The investment is IGC’s first round of funding for the company, while Accel injected €4m in October 2006. The equity provided by each investor has not been disclosed, although the transaction was led by IGC. The investors hold a significant stake in the company. IGC was attracted to the company because it believes it offers a unique product in a market that is set to grow. Accel felt the company had progressed since its first investment and made a follow-on investment to solidify its stake in the company. The capital injection will support a geographical expansion. Company Telepo AB specialises in providing software for enterprise mobility and solutions for small to large businesses and service providers. The company is headquartered in Stockholm and was founded in 2004. People Mikael Johnsson managed the deal for IGC and will join the company’s board of directors. Martin Gibson and Kevin Comolli represented Accel. EXPANSION I Read new media AB SEK 2m Location Karlstad Sector Publishing Founded 2009 Staff 8 ALMI and Wingefors invest SEK 2m in I Read Transaction ALMI Invest and Wingefors Invest have provided SEK 2m for I Read new media AB, which provides digital journals through Paperton.com. The funding was split equally between the two investors, and capital from ALMI was provided through the ALMI Invest Västsverige fund. The investment was made after the company contacted the backers about potential funding for its continued expansion. ALMI and Wingefors were attracted to the deal because they believe there is strong growth potential in the market and that the company has strong management. The investment will support the development and marketing of the company, as well as an increase in the workforce. Company I Read operates the website Paperton.com, which provides journals and magazines in digital format. The company was founded in 2009, employs eight people and is based in Karlstad. Ulf Green from ALMI will join the company’s board of directors. People Ulf Green managed the deal for ALMI. Nima Samimi is the CEO of I Read. 24 UNQUOTE OCTOBER 10 ENTIRE CONTENTS COPYRIGHT 2010 INCISIVE MEDIA INVESTMENTS LTD www.unquote.com/nordics
unquote expansion Ratos refinances HL Display Transaction Ratos has completed a refinancing round of HL Display AB, in which it acquired a 99.3% stake following a take-private in August 2010. The refinancing has given the investor a cash pay-out of approximately SEK 400m and was made in order to adapt the capital structure of the company to the new ownership structure. Refinancing took place through a loan from one of Ratos’s portfolio companies, which in turn has received shares in HL Display as security. Existing debt in HL Display will remain. REFINANCING HL Display Location Stockholm Sector Business support services Founded 1954 Turnover SEK 1.36bn EBITDA SEK 122m Staff 1,100 Returns cSEK 400m Previous transaction Ratos acquired a 28.8% stake in HL Display following Ratos and 3i’s acquisition of Atle in 2001. During this period, the company has experienced organic growth and some acquisition bolt-ons. At the beginning of June 2010, Ratos made an offer to acquire remaining shares in the company at SEK 49 per share, giving the company a market cap of SEK 1.516bn. Following an extended acceptance period that ended on 27 August, Ratos owns 99.3% of the share capital and 99.7% of the share votes in HL Display. Company HL Display is a supplier of products and solutions for merchandising and in-store communication. The Stockholm-based company was founded in 1954 and employs approximately 1,100 people. The company had a turnover of SEK 1.36bn in 2009 and an EBITDA of SEK 122m. HL Display was listed on the NASDAQ OMX Stockholm Small Cap. People Susanna Campbell worked on the deal for Ratos. HgCapital signs for 44MW wind farm project Transaction HgCapital has signed an agreement with NV Nordisk Vindkraft AB to finance the construction of Ytterberg wind farm in Sweden. PROJECT FINANCE Ytterberg wind farm Location Sector Sweden Renewable energy Nordisk Vindkraft, a subsidiary of Renewable Energy Systems, will build the product under an EPC contract. The equity for the project is provided by HgCapital’s funds, and a 17-year project financing has been arranged. HgCapital, NV Nordisk Vindkraft, Vestas and Commerzbank have previously cooperated on the 95MW Havsnäs wind farm project in Sweden. Debt The project financing is underwritten by Commerzbank. Company The project will use 22 V-90 2MW turbines supplied by Vestas, producing sufficient electricity ENTIRE CONTENTS COPYRIGHT 2010 INCISIVE MEDIA INVESTMENTS LTD UNQUOTE OCTOBER 10 25 www.unquote.com/nordics
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The Belgian government has released a new compromise - Unquote

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