Corporate Finance

Arctic Securities is a leading corporate finance advisor and transaction manager with extensive experience and expertise from the Nordic market. We offer our clients financial services including equity (ECM) and debt (DCM) capital markets, mergers & acquisitions (M&A), corporate restructurings and structured finance.

Our industry focus areas include:

  • Aquaculture
  • Commercial real estate
  • Financial institutions
  • Infrastructure & utilities
  • Life sciences
  • Oil & gas
  • Private equity
  • Shipping
  • Telecommunications, media & technology

Arctic Securities is a leading coordinator and book-runner of ECM and DCM transactions and has excellent distribution capabilities and well documented equity and bond placing power. We are also a leading participant within M&A, corporate advisory work and restructuring. Arctic Securities' objective is to provide our clients with the best possible advice and to establish and maintain long-term relationships. We accomplish this through offering high quality services based on trust and integrity, offering innovative solutions, adhering to high ethical standards and attracting and retaining highly motivated and committed employees with comprehensive experience and expertise. All of our advisory and transaction teams include senior investment banking professionals, each with 15-25 years of experience.

Feel free to contact us

Fridtjof Berents

Head of Corporate Finance

Petter Bakken

Head of Corporate Finance

Aquaculture

Norway has one of the world’s largest aquaculture industries. Growth within the Norwegian seafood sector is driven primarily by salmon farming, and Norway produces more than half of the world’s total output.

Increasing industrialization of the aquaculture industry has led to the development of a global sub-sector consisting of suppliers to aquaculture, from producers of fish feed to advanced equipment, technology and service companies. Within the Norwegian seafood industry another important segment is related to harvesting and processing of wild fish. The Oslo Stock Exchange is the world’s largest exchange for seafood companies. Since our inception, Arctic Securities has been an advisor within the sector and across relevant geographic regions including Norway, the UK and Iceland. Across species, Arctic Securities has advised on situations involving salmon, whitefish and krill. Our seafood team offers access to a wide network of industry participants and financial enterprises.

Commercial Real Estate

The commercial real estate (CRE) sector in Norway is well developed and supported by a healthy Norwegian economy and strong government finances. The sector has developed rapidly from being dominated by Norwegian investors five years ago, to today where international investors represent about half of the annual CRE transaction volumes.

A number of listed Norwegian real estate companies, together with Norwegian and international insurance companies, pension funds, family offices and private equity firms, represent the majority of CRE transaction volumes. The significant inflow of international capital over the last five years has contributed to making the Norwegian CRE market among the more professional and efficient markets in Europe. Norway, with the second highest GDP per capita in the world, low unemployment rates and strong purchasing power, attracts real estate investors seeking profitable investment opportunities with acceptable risk profiles.  Since the inception of Arctic Securities, the CRE team has been a leading advisor involved in the majority of the largest CRE transactions in Norway. Our corporate finance advisory services cover the full range from buy- and sell side M&A advisory to large ECM transactions, often combined with debt financing. In addition we have initiated and advised on tailor-made transactions bilaterally negotiated between parties. As a leading arranger of real estate bond financing, we can provide a competitive edge to our clients. Our experienced CRE team offers a unique combination of expertise and resources ranging from transaction strategy and tactics to excellence in every step of the execution of each transaction.

Arctic Securities also has a leading position within origination and structuring of CRE project financing club deals and syndications involving single asset transactions. To support project finance activities, our subsidiaries Arctic Capital and Arctic Business Management provide capital raising, secondary trading and commercial business management services, respectively.

Financial Institutions

Norway has an open and well diversified financial services industry. Being part of the European Economic Area (EEA) the regulatory regime is based on EU legislation. There are a large number of foreign institutions operating in Norway, especially within the banking sector.

The overall responsibility for financial services industry legislation resides with the Ministry of Finance, the Norwegian Financial Supervisory Authority and the Norwegian Central Bank. Arctic Securities’ independence has been an important element in its development into one of the main advisors on financial services transactions in Norway. We have acted as advisor to companies within all the relevant sub-sectors of the financial services industry, ranging from large commercial banks, life and P&C insurers, to a large number of local and regional savings banks, consumer finance providers, payment processers and debt purchasing and collection agencies. We have advised governmental institutions on transactions and other financial and strategic matters, including several government ministries. We provide in-depth knowledge of the operational aspects of the sector, combined with a detailed understanding of the regulatory regime.

 

Infrastructure & Utilities

Norwegian companies have been active in developing infrastructure and utilities projects, ranging from hydropower production facilities to extensive fibre networks and district heating facilities. This has been driven by favourable geographical characteristics and an efficient regulatory framework, with strong government support.

The sector spans a wide range of sub-sectors, and often involves companies with long-term and stable cash flows, thereby attracting attention from a broad range of institutional investors, in many cases as part of an asset/liability matching strategy. Infrastructure and utility companies are frequent issuers of bonds to finance their operations, and in aggregate represent a large proportion of the Norwegian bond market volumes. Arctic Securities has advised on a range of infrastructure and utility transactions across all corporate finance product groups. The team covers all sub-sectors, with a particularly strong track record within solar energy, hydropower production, transmission, fibre networks, district heating and wind farms. Passenger transportation, by sea, air or land, is also handled by the infrastructure team. 

 

Life Sciences

The Norwegian life sciences industry is evolving rapidly. Having previously operated in the shadow of successful company clusters in Sweden and Denmark, Norwegian life sciences companies are now increasingly being recognized in their own right and attracting attention and interest from all over the world.

Continued research and development (R&D) by research centres in hospitals and universities in Norway is expected to contribute to the further development of the life sciences industry over the next decade. We expect growth in all relevant segments and particularly within oncology. Arctic Securities has dedicated significant resources to the sector, and has been involved in most of the Norwegian transactions within the life sciences sector over the last years. We combine in-depth medical knowledge with capital markets competence across all product areas.

 

Oil & Gas

The oil & gas industry remains an important contributor to the Norwegian economy, and is a core component of the investment universe in Norway for both domestic and international investors. The sector extends from leading global upstream companies like Statoil through smaller, independent E&P operators to a multitude of service and equipment companies.

The Norwegian oil & gas upstream sector and service and equipment industry have grown to become one of the leading global petroleum clusters, in particular within offshore deep water and harsh environment exploration and production technology. The Oslo Stock Exchange is the second largest energy company exchange in the world, and Norwegian marketplaces have become venues of choice for issuers and investors globally, facilitating capital raising for both E&P operators and service and equipment providers. Since its inception Arctic Securities has gained a leading position within corporate finance advisory services for upstream and oil services companies in Norway, and has developed a track record of M&A and capital raising. Arctic Securities maintains a dedicated team of specialists with experience from the oil & oil services industry, as well as energy investment banking.

 

Private Equity

The private equity industry is a driving force in the Norwegian transaction market. Nordic and international private equity funds collectively own more than 100 portfolio companies in Norway and are constantly looking for additional opportunities.

The private equity team consists of experienced M&A advisors, including former private equity professionals, who work in close co-operation with dedicated DCM executives to ensure total balance sheet capabilities. Key Arctic Securities corporate finance professionals have covered the private equity industry for more than 20 years and have a comprehensive understanding of the needs of financial sponsors. Arctic Securities offers a broad spectrum of corporate finance services from opportunity screening to transaction structuring, deal negotiations and bond acquisition financing.

Shipping

Norway has a long and proud heritage as a leading maritime nation. The maritime cluster combines shipping companies, financial institutions, shipbrokers, service and equipment providers, together with lenders, corporate financiers and investors. An important maritime-focused capital market has developed around the cluster with a unique offering to shipping companies across the globe.

The Oslo Stock Exchange is the world’s second largest exchange for shipping companies and the home of industry leaders within several shipping segments. Norwegian marketplaces offer a wide range of opportunities for global shipping companies to raise equity and debt capital from a global investor base, leveraging the experience and expertise present in the Norwegian market. Established as a leading provider of investment banking services to shipping companies, Arctic has an absolute commitment to integrity and quality.

Through our broad investor base and close dialogue with prominent institutional shipping investors, Arctic Securities provides clients with unique placing power, documented through our track record of successful transactions. Our shipping team has managed and executed high profile shipping IPOs, follow-on equity offerings and block trades in both the Norwegian and US markets, as well as placing secured and unsecured high yield bond issues and convertibles, and handling complex restructurings. Arctic Securities can also structure and syndicate project finance transactions, ranging from small syndicated single-ship deals to major bilateral project finance transactions. To support our project finance activities, our subsidiaries Arctic Capital and Arctic Business Management provide capital raising, secondary trading and management of direct investments, respectively.

Telecommunications, Media and Technology

The telecommunications, media and technology sector (TMT) in Norway has a history of fostering many leading edge companies with extensive international operations. With a limited home market, the Norwegian TMT companies have had to look abroad to achieve the necessary scale of operations, and have thus needed to develop advanced technologies and primary customer propositions in order to attract attention in competition with global businesses.

While the number of publicly listed TMT companies on the Oslo Stock Exchange is limited, it does include global enterprises within fixed line and mobile telephony and data communication, print media and online advertising and software development. The open nature of the Norwegian capital market has led to a number of domestic TMT companies being acquired by global market leaders and private equity investors. Arctic Securities has a dedicated team focusing on TMT clients and transactions, combining decades of industry and investment banking advisory and transaction experience. We deliver our full range of services to TMT clients, including M&A, ECM and DCM transactions.

 

Debt Capital Market

Arctic Securities is a large and well renowned arranger of fixed income securities in the Norwegian and the Nordic markets.

Arctic Securities’ professionals have extensive experience from international investment banking as well as from operating in the Nordic market. Our Stockholm subsidiary complements our Norwegian market position, with in-depth experience in the Swedish market. We offer our clients a wide range of financial products and advisory services. We supply both tailor-made solutions and more standardized products; both within the high yield and investment grade areas. Arctic Securities has experience from placing both unsecured and secured debt, in the form of bilateral loans to one or a few investors, as well as broadly distributed offerings. In addition, Arctic Securities has significant experience from the convertible bond market. We have excellent distribution capabilities and well documented placing power with a global reach to leading investors. The debt capital markets team works closely with our industry verticals in the corporate finance department to ensure that our clients get the best possible advice and assistance for each individual project, taking the full capital structure of the company into account.

Equity Capital Market

Arctic Securities has established itself as a prominent provider of equity capital markets services handling all relevant transactions ranging from IPOs, follow-on offerings and block trades to share acquisitions and repurchase programmes.

We have excellent distribution capabilities, well documented placing power and extensive experience from structuring and executing all types of equity offerings. This has resulted in a proven track record in identifying and matching issuers with appropriate investors, both domestically and internationally.  The ECM team’s main services include:

  • Initial public offerings
  • Rights offerings
  • Follow-on offerings
  • Private placements
  • Block trades
  • Share acquisition strategies
  • Share buy-back programmes

Our ECM team co-operates closely with our sales team, equity research analysts, settlement, corporate access, compliance and the relevant corporate finance industry teams. This enables and ensures “best-practice” execution and optimal end-results for our clients, and secures strong and long-standing client relationships. We are a leading coordinator and book-runner of Norwegian equity capital market transactions, and consistently rank at the top of the ECM league tables. Internationally we have a well demonstrated placement capability, and repeatedly outperform domestic and international peers. Key employees have worked on many of the most high profile IPOs and ECM transactions in the Norwegian market over the last 25 years.

Mergers and acquisitions

Arctic Securities’ M&A professionals have extensive competence across all relevant transaction models, including structured sale processes, bilateral sale negotiations, mergers, private acquisitions and public offers.

The M&A team consists of experienced professionals with background from leading Nordic and international investment banks. Core team members have advised on M&A transactions in the Norwegian market for more than 20 years. Core competencies within our M&A team include:

  • Deal strategies and tactics
  • Contract negotiations
  • Deal structuring
  • Idea generation
  • Buyer and Target screening
  • Valuation services
  • Due diligence co-ordination and guidance
  • Public tender offers
  • Takeover defence

The M&A team’s close co-operation with the various industry teams ensure that our clients benefit from strong transaction expertise combined with comprehensive sector knowledge. We have advised on more than a hundred M&A transactions with a total deal value above EUR 20 billion since the firm was founded in 2007, including many high profile transactions.

Restructuring

Arctic Securities can offer a team with extensive experience from complex restructurings and distressed financing processes. From the outset in 2007, we dedicated significant senior resources to assist in challenging corporate situations and have developed unique expertise and a comprehensive set of skills within our restructuring group.

Arctic Securities’ restructuring team can assist in everything from complicated refinancing to full restructuring processes involving banks, bondholders, export credit agencies as well as other important stakeholders. The team has broad industry experience as Arctic Securities has had a leading role within restructuring processes in sectors such as mining, E&P, oil services, real estate and renewables. Through our deep knowledge of the capital markets, we assist our clients in negotiating with all the key stakeholders and in raising new debt and/or equity where appropriate. The restructuring team has been involved in a large number of situations involving the Norwegian bond market, and has extensive knowledge of, and strong relations with, the key participants in this market. Our continuous involvement with Norwegian restructuring processes ensures that our clients always obtain the most up-to-date information on prevailing market sentiment. The restructuring team also draws on the expertise and experience of the relevant sector and product groups within Arctic Securities. A project team will typically consist of restructuring and sector specialists, ensuring comprehensive capabilities from the outset of the process. Given our independence of banks and financial institutions, Arctic Securities can serve as advisor for the specific company in distress, its creditors, or other stakeholders related to the distressed company.

Sale & Leaseback

The sale and leaseback team assists asset owners and investors in creating tailor-made financing solutions.

A sale and leaseback structure is a privately negotiated financing alternative to public securities that enables an asset owner to grow its asset base with off-balance sheet financing at the same time as improving liquidity, strengthening its balance sheet and retaining control of the assets. Arctic Securities' project finance team assists its clients on:

  • Deal sourcing
  • Project management
  • Deal structuring
  • Documentation
  • Bank negotiations
  • Sourcing of equity, both domestically and internationally

The team has long experience from the real estate and shipping/offshore industries, both from the owner and investor side, enabling it to execute transactions to optimize the outcome for all stakeholders.