Jussi Capital Oy (“Jussi Capital”), Sievi Capital Oyj (“Sievi Capital”) and other shareholders has signed an agreement to sell iLOQ Oyj (“iLOQ”) to Nordic Capital Fund IX (“Nordic Capital”) for a purchase price of EUR 190m.
iLOQ is a leading provider of self-powered digital and mobile locking systems which transform the way access to buildings is handled into a highly secure, functional and sustainable system. Drawing on its extensive track-record of organic growth acceleration and international expansion, Nordic Capital will support iLOQ’s continued development and growth. The Founder of iLOQ and the management team will re-invest in the business alongside Nordic Capital.
The transaction is subject to customary regulatory approvals and is expected to be completed by the end of 2019.
Carnegie acted as sole financial adviser to the shareholders of iLOQ.