Ontario Teachers’ Pension Plan and Nordic Capital have agreed to acquire Max Matthiessen, a financial advisor offering pensions, insurance, and investments in Nordics.
Nordic Capital is a private equity firm based in Sweden, focused on investments in healthcare, technology, and financial services in Northern Europe.
The firm initially invested in Max Matthiessen in 2020 and will now invest in the company through its €9bn Nordic Capital XI, after the exit of its initial investment.
Ontario Teachers’ manages the pensions and invests the assets of Ontario teachers, and invested more than CAD13bn in insurance and financial services as its core sector.
Through its private capital team, it has made 14 investments in financial services companies worldwide, 12 of which the pension fund has led or co-led.
Recently, Ontario Teachers’ acquired 7iM, TradeRepublic, Diot-Siaci and Westland Insurance Group, through its portfolio company BroadStreet Partners.
Ontario Teachers’ and Nordic Capital will acquire a co-control stake in Max Matthiessen.
The transaction is expected to be completed in the first half of 2025 (H1 2025), subject to customary regulatory approvals.
Ontario Teachers’ senior managing director and EMEA private capital head Iñaki Echave said: “Our joint ambition is to consolidate Max Matthiessen as the leading insurance and financial services company in the Nordics.
“We will leverage our deep expertise in wealth management and insurance services to help the company expand into new markets and adjacent segments, invest in technology and product development, and further enhance its ambitious sustainability programme.
“We look forward to partnering with Team Max Matthiessen, who share Ontario Teachers’ passion for helping people achieve financial security over the long term.”
Established in 1889 in Stockholm, Sweden, Max Matthiessen provides pension, insurance and wealth management solutions for employers, entrepreneurs, and individuals.
With more than 800 employees working at 45 locations across the Nordic region, the firm offers advice, analysis, administration, and products to 18,000 corporate clients.
Also, the company promotes sustainable investments by providing ESG-focused products.
Building on its strong management team and established integrated employee benefit and risk platform, Max Matthiessen is well-positioned to build its growth.
The acquisition will provide Max Matthiessen with further access to long-term capital and sector expertise to advance its expansion into international markets.
Max Matthiessen CEO Jacob Schlawitz said: “We are excited to have Ontario Teachers’ backing the next phase of our development alongside Nordic Capital.
“This partnership underscores our commitment to putting clients at the heart of everything we do.
“We are grateful for Nordic Capital’s support, together we have reached significant milestones — expanding our client offerings, driving sustainability, entering new markets, all while staying focused on delivering value to our customers.”
