Schantz develops and implements innovative IT solutions designed to streamline the business processes of life and pension providers and financial institutions. Schantz is headquartered in Copenhagen and, since 2007, they had been an independent subsidiary of BEC.During the process, ATRIUM has worked closely with Schantz management, whereas BEC – the owner – has primarily been involved in a steering committee. The process was run as a structured auction. ATRIUM has been in contact with potential buyers from all over the world, strategic as well as financial. MidCap Alliance members have identified several relevant buyers and verified a potential interest.
Generally, we have received a lot of interest from both the buyer universe and the Danish press, something which has probably been spurred by the FinTech hype.
Ultimately, the strategic buyers with industry knowledge were better able to understand and value the business, which is why the final bidders were all strategic. Dutch based Keylane, which is backed by Waterland Private Equity, had shown interest in Schantz early on. With the acquisition, Keylane will gain access to the Danish market and achieve a better position for succeeding in the Nordics. In addition to a geographic rationale, Keylane will also benefit from Schantz’ software suite and especially the core platform of Schantz’ Life system.
ATRIUM Partners
Advised in the sale of
Schantz (participation of BEC)
to