Houlihan Lokey Advises RelyOn Nutec

Houlihan Lokey is pleased to announce that RelyOn Nutec, a portfolio company of Polaris Private Equity (Polaris), has been acquired by Mubadala Capital. The transaction closed on 29 July 2024, following regulatory approval.

RelyOn Nutec is a global business delivering safety training and competence services for high-consequence industries across the world, helping customers protect their people, assets, and the environment. With headquarters in Copenhagen, Denmark, a global footprint, and around 1,250 employees worldwide, the company has a deep history of delivering compliance and competence services going back more than 50 years. Since its foundation, RelyOn Nutec has been leading the industry through intelligent application of leading-edge technology, becoming the preferred end-to-end partner for customers developing and maintaining a safe workplace while protecting the environment.

Polaris is a Nordic investment company based in Copenhagen that invests in and provides flexible capital to well-established, medium-sized companies in the Nordics. Since 1998, Polaris has raised six funds and obtained capital commitments of more than €2 billion. Polaris’ focus is to invest in companies with growth and development potential. To date, Polaris has invested in more than 50 companies and completed over 100 add-on investments. Polaris currently owns 16 companies.

Polaris partnered with RelyOn Nutec in 2018, and under its ownership, RelyOn Nutec has undergone significant transformation, evolving from a fragmented franchise model to a scalable and impactful edtech platform. The company now serves a variety of customers across a range of high-consequence industries, including energy infrastructure, renewables, maritime, and oil and gas. The company has delivered robust operational performance in recent years, reaching revenue of DKK 1,086 million and EBITDA of DKK 257 million in 2023.

Houlihan Lokey served as the exclusive financial advisor to RelyOn Nutec and Polaris and assisted in marketing the transaction, managing the transaction process, and negotiating the financial aspects of the deal on their behalf. This builds upon Houlihan Lokey’s market-leading position in the education and professional training sectors.

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