Beringer Finance and Fondsfinans merge to create a leading technology focused investment bankJune 23, 2016
The Swedish Corporate Finance firm Beringer Finance and Fondsfinans, Norway’s oldest investment bank, have agreed to merge the two entities. The combined group, to be branded Beringer Finance, will have a team of some 80 professionals with deeply rooted customer relationships and offices in Stockholm, Oslo, Reykjavik, New York and Silicon Valley.
Beringer Finance, with its global network and deep technology insights together with Fondsfinans’ investor base, financial market knowledge and a transaction track record of more than NOK 180 billion since year 2000, provide an excellent platform for further global growth. Fondsfinans’ transaction experience within banking & financial services, aquaculture & fisheries, TMT and industrial complements Beringer’s focus on technology driven industries perfectly.
Combining the strengths of the two organizations will increase both local and global presence, extend the investor universe and benefit clients with a more comprehensive advisory offering on all types of investment banking transactions. In addition it improves cross border transactions capabilities providing investors and industrial clients with exciting investment opportunities from all continents.
”With this merger we take a big step towards our 2020 vision – to make Beringer Finance a leading player in technology focused investment banking. We will become a leading advisor by differentiating ourselves through a best in class international network of professionals providing expertise, experience, and a deep understanding of entrepreneurship”, says Adalsteinn Johannsson, entrepreneur in the financial industry and principal owner as well as Managing Partner at Beringer Finance.
”We have known Adalsteinn and his team for many years. The merger with Beringer is a natural next step in the strategy process that Fondsfinans initiated last winter. We have trimmed Fondsfinans to be a sound setup based on our key competence within banking & financial services, aquaculture & fisheries,TMT and industrials. Now we need to offer our customers within these segments global opportunities. Technology is the key driver in most of our current focus areas and Beringer has the right setup to go global,” says Christian Must, Chairman of Fondsfinans.
The Must family and the holding company of Beringer Finance will, when the transaction is completed and the necessary government approvals have been obtained, own 50% each of the combined group. The parties have agreed not to disclose the terms of the transaction. The asset management company, Fondfinans Kapitalforvaltning, is not included in the deal and will continue its operation under the Fondsfinans brand, 100 % owned by Erik Must AS.
The transaction is subject to approval from the Norwegian Financial Supervisory Authority Finanstilsynet and the US SEC where the company has regulated operations.
For more information, please contact:
Sara Liljedal, Head of Communications
+46 (0) 706 29 9163
About Beringer Finance
Beringer Finance, founded 2014, is a technology focused corporate finance company consisting of 30 professionals with significant international experience in technology, finance and operations. The team has more than 300 years total investment banking and operational experience and its members have executed more than 500 deals combined. Beringer Finance assists clients in selling and buying businesses as well as raising capital. Beringer advises on transactions, with focus on technology and innovative entrepreneurs. Beringer is headquartered in Stockholm with offices in Reykjavik, Oslo and Silicon Valley.
Fondsfinans is a specialized advisor within Banking & Financial services, Aquaculture & Fisheries, TMT, Industrial SME and Real Estate. Tracing its origins back to 1915, Fondsfinans is the oldest independent stockbroker and investment bank in Norway. From its offices in Oslo and New York, Fondsfinans offers services within corporate finance, research, sales and trading.