Publications
Publications
- August 2013
- HBS Case Collection
HgCapital and the Visma Transaction (A)
By: Paul A. Gompers, Karol Misztal and Joris Van Gool
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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