- Anacap expects to generate 4x return with Oona’s sale
- Topdanmark is an insurance company based in Ballerup, Denmark
- AnaCap is a private equity firm specialising in mid-market companies
AnaCap Financial Partners has signed an agreement for the sale of Oona Health, a Danish private health services and insurance provider, to Topdanmark. No financial details of the transaction were disclosed.
Oona, headquartered in Copenhagen, Denmark, services corporate and SME companies as well as private individuals in Denmark and Sweden. In 2022, the firm recorded revenues of DKr700 million ($100 million; €94 million).
Oona’s management has expanded the company geographically and launched several new product lines since AnaCap invested in the firm in 2019, according to a release.
“The Nordic private health insurance market presented market conditions in which we were able to identify a clear opportunity to leverage our value creation growth track record in close collaboration with Kent Jensen and his management team,” said Tassilo Arnhold, co-managing partner at AnaCap.
During AnaCap’s investment period, Oona achieved growth in earnings with a five-year compound annual growth rate of over 60 percent, the release stated.
The sale is expected to generate a fourfold return and 40 percent IRR at closing, the release added.
The closing of the transaction is subject to regulatory approval.
AnaCap is a private equity firm specialising in mid-market companies across the financial, technological, and related business services sectors. The firm, based in London, has raised €2.7 billion in gross assets under management and completed over 76 investments.
Topdanmark is an insurance company based in Ballerup, Denmark. The firm has 2,100 employees.