- Takes in an additional EUR 200 million from minority owner KKR
Söderberg & Partners has agreed to close a new share issue, raising approximately 200 million EUR (2,3 billion SEK). The new growth investment is being provided by KKR, an existing minority investor since 2019. Following the new share issue, Söderberg & Partners will continue to be controlled by its founders and supported by its two significant minority shareholders, global investment firm KKR and private equity firm TA Associates.
The new capital will used to facilitate and support Söderberg & Partners’ ongoing expansion across all its current markets, with a particular focus on building upon its recent entry into Spain and the UK.
Gustaf Rentzhog, CEO and co-founder of Söderberg & Partners says: “We have just established Söderberg & Partners in the UK, a 10 trillion GBP wealth management market. We are confident, that with our technology and our partnership model, we are bringing a competitive offer that will fill a gap in the current market and help improve both efficiency and quality for the advisers that chooses to partner with us.”
He then continues: “Söderberg & Partners also recently entered the Spanish market and, through a number of acquisitions, we have already become one of the largest insurance intermediaries in the country. Our aim is continue on this journey and become one of the leading players in this market within the coming years”.
Hans Arstad, Managing Director leading KKR’s European private equity activities across the Nordic region, comments: “Söderberg & Partners has more than doubled in size since our initial investment in 2019 and we are pleased to make a significant new investment behind this exceptional team and platform. We believe there is enormous potential for Söderberg & Partners to accelerate its growth in UK, Spain and the rest of Europe by continuing to invest in building its differentiated suite of technology-enabled services and pursuing strategic M&A with leading players in key growth markets.
KKR is making the additional investment primarily through its European Fund V. The firm has an established track record in the Nordic region, having invested over 6 billion EUR in equity since 2007 and strengthening its presence and growth ambitions in the region with the opening of a new office in Stockholm, Sweden in June 2021.
For more information, please contact:
Rasmus Löwenmo Buckhöj, Head of Information, Söderberg & Partners Group
Rasmus.LowenmoBuckhoj@soderbergpartners.se
+4676 149 50 05
For KKR Nordics:
Ludvig Gauffin, Fogel & Partners
kkr@fogelpartners.se
+4670 222 60 30
About Söderberg & Partners
Söderberg & Partners was founded in Sweden 2004 and is today one of the largest providers of wealth management and corporate insurance services in the Nordic region and the Netherlands. The company has over 3,000 employees across more than 110 offices in Sweden, Norway, Denmark, Finland, the Netherlands, Luxemburg and Spain, and more than GBP 60bn in Assets under Management and Assets under Advice.
