Kvika acquires Beringer Finance´s Corporate Finance practice in IcelandSeptember 14, 2017
Kvika banki hf. and the investment bank Beringer Finance AS have reached an agreement on Kvika´s acquisition of Beringer Finance´s Icelandic Corporate Finance practice. As part of the acquisition certain projects and employees of Beringer Finance in Iceland will be transferred to Kvika. The parties have also decided to start collectively exploring corporate finance cooperation opportunities in Iceland, Norway and Sweden.
Baldur Stefansson who has been Beringer Finance´s Country Manager in Iceland will assume the position of Kvika banki´s Managing Director of Corporate Finance.
“Kvika is a rapidly growing investment bank which is continuously seeking opportunities to further strengthen its core business. The Corporate Finance team at Beringer Finance in Iceland is experienced and it is our view that with this acquisition Kvika´s Corporate Finance division will be in a prime position to offer our clients excellent service. Further it is our view that the cooperation with Beringer Finance in other markets offers the bank and its clients interesting opportunities” says Armann Thorvaldsson Kvika bank´s CEO.
“Beringer Finance has built a strong generalistic Corporate Finance operation in Iceland. Beringer Finance´s core focus has though navigated further towards specializing in technology and growth sectors. Following this transaction, we intend to continue to increase our focus on Tech & Growth in Iceland and globally. We believe that our cooperation with Kvika will allow both parties to focus on their respective strengths as well as for us at Beringer Finance to open new markets and prospects for Kvika´s clients” says Adalsteinn Johannsson CEO of Beringer Finance AS.