About SPEAS
Investment commitments
On 11 June 2019, SPEAS entered into an agreement to sell its private equity portfolio.
The sale was partly closed on 10 July 2019 as the Company's interests in EQT V, EQT VI, and Norvestor VI were transferred to the buyer.
The remaining part of the sale is expected to be completed during Q3 2019 and is conditional on the usual conditions for such a transaction, including the consent of the respective funds.
Investment commitments have been made to the following private equity funds:
EQT V EUR 40m
EQT VI EUR 10m
IK 2007 EUR 25m
Litorina III SEK 107m
Litorina IV SEK 46m
Apax Europe VII EUR 30m
Herkules III NOK 100m
Norvestor VI NOK 80m
EQT V and VI
EQT V and VI are managed by EQT, a leading European private equity company with a total of 14 offices in Europe, USA, and Asia, including in Stockholm, Copenhagen, Oslo, and Helsinki. EQT has raised more than EUR 50bn in 28 funds, which in total have invested in more than 200 companies. EQT V started with a total capital commitment of EUR 4.25bn and EQT VI with a total capital commitment of EUR 4.75bn.
The investment period of EQT V ended on 4 May 2011 and of EQT VI on 5 August 2015. The funds have typically invested EUR 100m-500m per company and targeted controlling interests in medium-sized and large companies in the Nordic countries and Germany.
For further information on EQT, please refer to web site www.eqt.se
IK Investment Partners is a European private equity company with offices in London, Stockholm, Hamburg, Amsterdam and Paris. IK Investment Partners has raised more than EUR 9bn in 10 funds and has since 1989 invested in more than 100 companies. IK 2007 started with a total capital commitment of EUR 1.7bn.
The investment period of IK 2007 ended on 12 October 2012. The fund has invested EUR 50m-150m per company and mainly focused on majority interests in medium-sized companies with strong market positions. Geographically, the fund focuses mainly on Sweden, Finland, Norway, Denmark, the Benelux, France and Germany.
For further information on IK Investment Partners, please refer to web site www.ikinvest.com
Litorina III and IV
Litorina is a Swedish private equity company domiciled in Stockholm. Since 1998 Litorina has invested in more than 45 companies. Litorina III started with a total capital commitment of SEK 1.4bn and Litorina IV with a total capital commitment of SEK 2.5bn.
The investment period of Litorina III ended on 31 December 2010 and of Litorina IV on 31 December 2016. The funds have typically invested SEK 50m-150m per company and acquired majority interests in Swedish SMEs with strong market positions.
For further information on Litorina Kapital, please refer to web site www.litorina.se
Apax Europe VII
Apax Partners is a global private equity company with offices in London, New York, Munich, Tel Aviv, Mumbai, Shanghai and Hong Kong. Apax Europe VII started with a total capital commitment of EUR 11.2bn.
The investment period for Apax Europe VII has ended and the fund has invested in established companies within four growth sectors: Tech and telecom, retail and consumer, healthcare, as well as financial and business services, worth EUR 1bn-5bn (excl debt).
For further information on Apax Partners, please refer to web site www.apax.com
Herkules III
Herkules Capital is a Norwegian private equity company domiciled in Oslo. Herkules Capital was established in 2004 and has since then managed four Norwegian/Nordic funds with total commitments of over NOK 15bn. Herkules III started with a total capital commitment of NOK 6bn.
Herkules III's last platform investment was completed in 2013, and the fund has mainly invested in Nordic companies worth NOK 250m-2,500m (excl debt).
For further information on Herkules Capital, please refer to web site www.herkulescapital.no
Norvestor VI
Norvestor Equity is a Nordic private equity company with offices in Oslo and Stockholm. Norvestor was established in 1997 and has since then invested in more than 70 companies.
The company currently manages four funds with total commitments exceeding NOK 11bn.
The Investment period of Norvestor VI ended on 21 December 2015. The fund has invested NOK 100m-500m per company and acquired majority interests in SMEs with strong market positions. Geographically, the fund focuses on Norway and Sweden.
For further information on Norvestor, please refer to web site www.norvestor.no
NAV per share 30 April 2019:
Dividend distributed 28 May 2019:
DKK -1,200
Dividend distributed 16 July 2019:
Pro forma NAV per share:
Estimated total future distribution per share up to and including the final liquidation of SPEAS:
Company announcements etc.
SPEAS has with effect from May 2016 discontinued to publish company announcements etc., including financial reports, in English.
Sale partly closed and extraordinary dividend distribution 10-07-2019
Interim Report Q1 2019/20 18-06-2019
Sale of the private equity portfolio 11-06-2019
Decisions of Annual General Meeting 2019 23-05-2019
Soundings on a potential sale of the private equity portfolio 23-05-2019
Norvestor VI divests Robust 21-05-2019
Notification of major shareholding (SEB) 21-05-2019
Herkules III sells Puzzel 07-05-2019
Apax Europe VII agrees to sell Acelity 03-05-2019
Notice of Annual General Meeting 26-04-2019
Scandinavian Private Equity A/S, CVR-nr. 29 82 40 88