To support its successful growth journey, a Nordic Capital investment vehicle is exiting its investment in live video production software provider Vizrt Group to a new Nordic Capital-led consortium.
This transaction, says Nordic Capital, will allow it to work with the Vizrt management team to continue to support business and strategy over the next ownership cycle, providing capital to further fuel a strong growth momentum.
The secondary acquisition vehicle, which forms part of the new Nordic Capital-led acquiring consortium, was established with investment vehicles managed or advised by Goldman Sachs Asset Management’s Vintage Funds, Pantheon and Coller Capital as co-leads.
Building on Vizrt’s leading technology platform, strong customer relationships and reputation for operational excellence, Nordic Capital has entered into a strategic transaction to enable it to further invest through a new consortium led by it in the ongoing development of the business. The aim is to further support Vizrt’s continued transition to a SaaS (Software as a Service) business model, accelerate new offerings, thereby expanding its operational capabilities and pursuing add-on investments to complement the offering and further accelerate the group’s growth.
Michael Hallén, CEO of Vizrt, said, “This continued investment validates the growth strategy we have embarked upon with Nordic Capital and is a strong endorsement of the capabilities of our team and the value we deliver for our customers every day.
“It will help us to better meet the evolving needs of our customers in the future by allowing us to realise our development plans, further deepening our innovative service offering.”