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  • August 2013
  • Case
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HgCapital and the Visma Transaction (A)

By: Paul A. Gompers, Karol Misztal and Joris Van Gool
  • Format:Print
  • | Language:English
  • | Pages:27
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Abstract

This case concerns the negotiations of a deal by HgCapital, a UK-based private equity firm, to buy Visma, ASA, a Norwegian software company. Visma has received an offer from Sage Group, a strategic acquirer. HgCapital must determine if it wants to bid and how to outbid a potential strategic acquirer. The case concerns bidding and negotiations strategies as well as deal structuring issues. In particular, the cross border nature of the investment, a UK firm investing in Norway, leads to a number of financing issues related to raising the debt for the LBO. The case provides an opportunity to role play both the PE fund perspective and the potential target.

Keywords

Management Buyout; Deal Structuring; Negotiations; Private Equity; Finance; Valuation; Leveraged Buyouts; Negotiation Deal; Negotiation; Strategy; Europe

Citation

Gompers, Paul A., Karol Misztal, and Joris Van Gool. "HgCapital and the Visma Transaction (A)." Harvard Business School Case 214-018, August 2013.
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About The Author

Paul A. Gompers

Entrepreneurial Management
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Related Work

    • August 2013
    • Faculty Research

    HgCapital and the Visma Transaction (B-1): Nic Humphries

    By: Paul A. Gompers, Karol Misztal and Joris Van Gool
    • August 2013
    • Faculty Research

    HgCapital and the Visma Transaction (B-2): Oystein Moan

    By: Paul A. Gompers, Karol Misztal and Joris Van Gool
    • October 2013
    • Faculty Research

    HgCapital and the Visma Transaction (A) Courseware

    By: Paul A. Gompers
Related Work
  • HgCapital and the Visma Transaction (B-1): Nic Humphries By: Paul A. Gompers, Karol Misztal and Joris Van Gool
  • HgCapital and the Visma Transaction (B-2): Oystein Moan By: Paul A. Gompers, Karol Misztal and Joris Van Gool
  • HgCapital and the Visma Transaction (A) Courseware By: Paul A. Gompers
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