CapMan to get 63% in The North Alliance (NOA)

The North Alliance (NOA), an Oslo, Norway-headquartered digital communications group announced getting into an agreement for selling a part of the company to the Finnish private equity group CapMan.

The financial details of the deal remain undisclosed.

Following the transaction, funds managed by CapMan will own 63% of NOA. The current owners of the seven companies will hold a significant interest in NOA, demonstrating a strong commitment and confidence in the future development of the company. The transaction is financed with a senior secured bond where ABG Sundal Collier has acted as sole bookrunner and manager.

The North Alliance, founded in 2014 and led by CEO Thomas Høgebøl, is a network comprised of seven leading players within communication, design and technology in the Nordic markets. NOA is the first independent network in the Nordic countries with ambitions to compete with large multinational players.

The companies included in the network are the Swedish agencies, Åkestam Holst, Great Works, Bold, Promenad and Knock, the Danish agency &Co, and the Norwegian design and technology company Making Waves. These companies represent leaders within their respective fields. All network companies will be 100% owned by NOA, while retaining their independent identities and brands. From day one, NOA will be able to offer local, Nordic and international clients a full spectrum of communication services with capabilities to develop and implement advanced digital solutions. The network's combined turnover is more than €50 million and currently it employs 450 persons based in Stockholm, Oslo, Copenhagen, New York and Krakow.