Hugin ASA is one of Europe’s leading distributors of investor and customer related communications.  From its offices in nine European countries (Belgium, Denmark, Finland, Germany, the Netherlands, Norway, Sweden, Switzerland and the UK), the Company distributes press releases, e-mails, faxes, video and other forms of corporate communications on behalf of more than 1,200 client companies located in 20 European countries.

The company was founded in 1985 by MIT graduate and former McKinsey consultant Karl-Christian Agerup, along with partner Ingar Ostby, an investor and industry veteran. Together, they had formed a venture-capital firm that provided initial funding to Hugin.  Initially, Karl-Christian led the Company personally - establishing operations in multiple countries.  Over time they brought in additional financial backing from two of Scandinavia’s largest media firms: Schibsted and Orkla, as well as from life insurance firm Nordea.  Eventually, Karl-Christian stepped away from day-to-day management to focus on other investment activities, and turned the Company over to professional managers. Over the next few years, the company rapidly grew.

Prior to engaging M&A, the Company was approached by several strategic firms interested in Hugin’s leadership position within this burgeoning sector.  While the Company was growing well, with Europe in the early stages of significant regulatory reform (including expansion of the EEC, a new European “Transparency Directive” and strengthened financial reporting requirements) and with increasing consolidation within the global corporate communications industry, Hugin’s Management and Board concluded that they should explore opportunities to join Hugin with a strategic partner.  They engaged M&A as the Company’s exclusive strategic and financial advisor.