Norway’s Longship closes second fund at €160m

Oslo-based private equity firm Longship has closed its second fund at the hard cap of NOK1.7bn (€160m). The vehicle is slightly larger than the firm’s maiden fund, reported to have raised €133m in 2016.

The firm, a lower mid-market buyout specialist, now manages NOK3.1 billion (€300m) in aggregated capital. Its typical transaction value ranges between NOK 100-500 million (€10-50m).

The firm’s main focus is small and medium-sized Norwegian companies with sales of NOK 150 million to NOK 1 billion (€15m to €100m) and a clear potential for growth in revenue and earnings.

Among its main investment areas are technology, sustainability, leisure and lifestyle as well as welfare. The first fund consists of eight portfolio companies, including the tech company Sensio and the fish farming supplier Nofitech. It has not made any exit yet.

Longship was set up in 2015 by a team of senior partners – Kai Jordahl, Hans Tindlund, and Espen Stenumgård – from buyout group CapMan in Norway.

Source: Private Equity News