Nordic Private Equity Market Update - Q2/2023

Our Nordic PE sector team shares insights on PE deal volumes in key sectors across the Nordics. 

Key takeaways from Q2, 2023:

• Reported buyout and VC deal volumes in the Nordics continued to trend lower in Q2, reaching 3-year lows.
• Business services and Tech deal volumes remained stable year-on-year; Consumer and industrial segment activity was challenging, with volumes down 30% relative to 2022.
• Funds continue to review portfolios, reset value creation strategies, and address performance challenges.
• Five buyout and VC funds were closed in Q2 in the Nordics with an estimated value of over €1.7bn. Fund raising is ongoing in at least nineteen funds.
• The deal space in general is likely to continue to be under some pressure in the remainder of 2023, driven by macroeconomic uncertainties and access to financing for larger deals.
• Deal processes continue to be long with persistent valuation gaps between buyers and sellers. However, some signs of improved alignment of expectations have been observed.