STOCKHOLM, May 25 (Reuters) – Private equity firm Nordic Capital said on Monday it was buying the Swedish insurer and financial advisor Max Matthiessen, in a bid to scale up the insurer’s operations and target future investment opportunities.
The terms of the deal were not disclosed and the acquisition, from current owner, insurance giant Willis Towers Watson, remains subject to regulatory approval.
“The joint focus will be on scaling Max Matthiessen’s operations and investing in organic as well as acquisitive growth,” said Nordic Capital’s head of financial services Christian Frick.
Max Matthiessen’s 2019 revenue was 1.55 billion Swedish crowns ($160.00 million). The insurer has 440 staff, based across around 30 locations in Sweden. ($1 = 9.6877 Swedish crowns) (Reporting by Colm Fulton; Editing by Simon Johnson)
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