Ocorian acquires Nordic Trustee
Ocorian has acquired Nordic Trustee, a provider of trustee and agency services for bonds and direct lending in the Nordic region, from Altor Fund IV, subject to regulatory approval.
This transaction reflects Ocorian’s strategy to further build its capital markets offering, one of its fastest growing business lines.
Since it was founded in 1993, Nordic Trustee has played a primary role in the development of the Nordic bond market, facilitating issuers access to capital, as well as monitoring and securing bondholders’ rights. Nordic Trustee has been an integral part of the Nordic bond market supporting borrowers and lenders with advice through more than 400 bond restructurings and 2,000 bondholders’ meetings. Nordic Trustee is also the largest independent loan agent in the growing Nordic private credit market and supports various stakeholders in the bond and private loan markets with digital solutions.
The company has over 3,000 running assignments in the non-bank lending sector for more than 850 issuers and borrowers from 30 countries. Furthermore, the company provides bond reference data, pricing information and indexes to institutional investors through its proprietary platforms Stamdata, Nordic Bond Pricing and eFIRDS.
With offices in Oslo, Stockholm, Copenhagen and Helsinki, Nordic Trustee is led by CEO Cato A Holmsen and a highly experienced management team. The team will continue to run Nordic Trustee’s business and secure the company’s role as an independent and market leading bond trustee and loan agent in the Nordics.
Frederik van Tuyll, Chairman and CEO at Ocorian, says: “This exciting acquisition allows Ocorian's clients to tap into the fast-growing Nordic bond and direct lending markets. The transaction also significantly expands the breadth and depth of solutions that Nordic Trustee can offer their clients and help them to be even more successful.”
“We share a single-minded focus on building long term client relationships founded on excellent client service, something which Nordic Trustee is renowned for. We are looking forward to working with the whole team at Nordic Trustee to best support our clients’ needs, now and in the future.”
CEO Cato A Holmsen says: “This is great news for everyone at Nordic Trustee and our clients. We are delighted to be partnering with Ocorian and welcome this opportunity to team up with a fast-growing global business to offer our combined client base an enhanced service."
Ocorian is backed by Inflexion Private Equity and Flor Kassai, Partner says: “Ocorian is a dynamic, growing business with great potential and we’re delighted to support its continued development. Nordic Trustee is highly complementary to Ocorian’s existing global network and this partnership is an exciting part of its business growth."
Pål Stampe, Partner at Altor Equity Partners added “Nordic Trustee is a world-class company, and it has been a privilege to be a part of their journey. As a part of Ocorian Nordic Trustee will have excellent opportunities for future development including expansion outside the Nordic region.”
The buyers were advised by Thommessen, White & Case, PwC, DNB and Oliver Wyman.
The sellers were advised by Arctic Securities, PwC and Wikborg Rein.