EQT Partner acquires Swedish leading specialist mortgage provider BlueStep Bank,

EQT Partners, through its fund EQT VII, announced getting into an agreement to acquire Sweden based BlueStep Bank, the leading specialist mortgage provider in the Nordic region.

The transaction, which has the financial details undisclosed, was made with funds managed by Bregal Capital LLP and advised by EMK Capital LLP, and other owners.

BlueStep Bank, founded in 2005 and led by CEO Öyvind Thomassen, has pioneered the specialist mortgage market in Sweden and Norway. By a differentiated approach to customer on-boarding and loan underwriting, focusing on the customer’s underlying loan servicing ability, BlueStep Bank has provided more than 29,000 customers with loans since inception, building a loan portfolio of SEK 13 billion.

BlueStep Bank is headquartered in Stockholm, Sweden and has approximately 200 employees.