N.B. The English text is an in-house translation. In the event of any discrepancies between the text in this document and the Swedish document, the latter shall prevail.

PRESS RELEASE

Report from the annual general meeting in NAXS Nordic Access Buyout Fund AB (publ) on 8 May 2012

On 8 May 2012 the annual general meeting of NAXS Nordic Access Buyout Fund AB (publ) resolved in accordance with the following

Adoption of the annual accounts etc.

• The annual general meeting adopted the income statements and balance sheets for the parent company and the group for the year 2011, and resolved that the funds at the annual general meeting's disposal, SEK 566,019,580, shall be allocated as dividends to the shareholders of SEK 0.4 per share, in total SEK 5,995,418, and that the remaining unrestricted equity, SEK 560,024,162, is carried forward.

• The annual general meeting resolved to discharge the board members and the managing director from liability.

Board of directors and auditors etc.

• The annual general meeting resolved, in accordance with the nomination committee's proposal, that the number of board members shall be four (4) with no deputy board members and that the board shall be composed as follows: Björn C. Andersson (re-election), Robin Ahlström (re-election), Frans Boch (re-election) and Ramanan Raghavendran (new election). Björn C Andersson was re-elected as chairman of the board.

• It was further resolved, in accordance with the nomination committee's proposal, that the compensation to the chairman of the board of directors shall amount to SEK 225,000. The compensation to each other board member who does not draw any salary from the company shall amount to SEK 150,000. The auditor fees shall be paid in accordance with an approved invoice.

Principles for appointment of the nomination committee for the 2013 annual general meeting

• The annual general meeting resolved, in accordance with the nomination committee's proposal, to adopt principles for the appointment of the nomination committee for the 2013 annual general meeting. The complete principles are available at the company's webpage www.naxs.se.

Guidelines for remuneration to senior managers

• The annual general meeting resolved, in accordance with the board of directors' proposal, to adopt remuneration guidelines for the senior management. The complete guidelines are available at the company's webpage www.naxs.se.

Authorisation to acquire the company's own shares

• The annual general meeting resolved, in accordance with the board of directors' proposal, to authorise the board of directors to acquire the company's own shares. The complete proposal is available at the company's webpage www.naxs.se.

N.B. The English text is an in-house translation. In the event of any discrepancies between the text in this document and the Swedish document, the latter shall prevail.

NOTICE OF ANNUAL GENERAL MEETING IN

NAXS NORDIC ACCESS BUYOUT FUND AB (publ)

The shareholders of NAXS Nordic Access Buyout Fund AB (publ) (the "Company" or "NAXS") are hereby invited to the annual general meeting (the "Meeting") on Tuesday 8 May 2012 at 4.00 p.m. at the offices of Advokatfirman Vinge, Smålandsgatan 20, Stockholm, Sweden.

RIGHT TO ATTEND THE MEETING

Shareholder that wish to attend the Meeting,

shall                    be registered in the share register maintained by Euroclear Sweden AB by Wednesday, 2 May 2012;

and shall            have notified the Company of their intention to attend the Meeting and of any representative/proxy/advisor who will represent/accompany the shareholder to the Meeting on Wednesday, 2 May 2012. Notification shall be sent in writing to NAXS Nordic Access Buyout Fund AB (publ), Attn: Lennart Svantesson, Grev Turegatan 10, 1st floor, SE-114 46 Stockholm, Sweden or by e-mail (lennart.svantesson@naxs.se). Notification shall include the shareholder's name, personal identification number/corporate registration number (or similar), address and daytime telephone number, as well as, wherever applicable, details of representatives, proxies and advisors. A maximum of two advisors may attend. To facilitate registration at the Meeting, notification, wherever applicable, should include a signed power of attorney, registration certificate and other documents proving identity.

PROXY

Shareholders represented by proxy must submit a dated power of attorney. If the power of attorney is executed by a legal person, a certified copy of the certificate of registration or equivalent must be attached. The power of attorney is valid for a period of one year from its issuance; however the power of attorney may be valid for up to five years from its issuance if explicitly stated. The original power of attorney and certificate of registration should be submitted to the Company by post at the address mentioned above in duly time prior to the Meeting. A proxy form is available on the Company's website (www.naxs.com) and will be sent to shareholders who request the form.

NOMINEE-REGISTERED SHARES

To be entitled to participate in the Meeting, shareholders whose shares are registered in the name of a nominee must temporarily re-register their shares in their own names in the share register maintained by Euroclear Sweden AB. Such registration must be duly effected in the share register maintained by Euroclear Sweden AB on Wednesday, 2 May 2012, and the shareholders must therefore advise their nominees well in advance of this date.

RIGHT TO REQUEST INFORMATION

The shareholders are reminded of their right to request information in accordance with Chapter 7 Section 32 of the Swedish Companies Act (Sw. aktiebolagslagen).

NUMBER OF SHARES AND VOTES

As of the date of this notice there are in total 15,000,000 shares and votes in the Company. The Company holds 48,805 own shares as of the date of this notice.

AGENDA

• 1. Opening of the Meeting
• 2. Preparation and approval of the voting list
• 3. Election of the chairman of the Meeting
• 4. Presentation and approval of the agenda
• 5. Election of two persons to verify the minutes together with the chairman of the Meeting
• 6. Determination as to whether the Meeting has been duly convened
• 7. Speech by the CEO, submission of the annual accounts and the auditor's report, as well as consolidated accounts and auditor's report on consolidated accounts
• 8. Resolution on
• a. the adoption of the profit and loss statement and balance sheet, as well as the consolidated profit and loss statement and the consolidated balance sheet;
• b. appropriation of the Company's profit according to the adopted balance sheet; and
• c. discharge of the members of the board and the CEO from liability
• 9. Determination of the number of members of the board and any deputy members of the board
• 10. Determination of fees to be paid to the members of the board and auditor
• 11. Election of members of the board, chairman of the board and any deputy members of the board
• 12. The nomination committee's proposal regarding principles for appointment of a nomination committee for the annual general meeting 2013
• 13. The board's proposal for remuneration guidelines for the senior management
• 14. The board's proposal to authorise the board to acquire the Company's own shares
• 15. Closing of the Meeting

Proposals of the nomination committee

Items 3, 9-11: Election of chairman of the Meeting, determination of the number of members of the board and any deputy members of the board, determination of the fees to be paid to the members of the board and auditor, as well as election of members of the board, chairman of the board and any deputy members of the board

The nomination committee of the Company proposes that the Meeting resolves in accordance with the following;

• Jesper Schönbeck, member of the Swedish Bar Association, is proposed to chair the Meeting.
• It is proposed that, for the period until the end of the next annual general meeting, the board shall consist of four (4) members without any deputy members of the board.
• For the forthcoming period of office, it is proposed that the members of the board shall be paid a total amount of SEK 675,000, of which SEK 225,000 shall be paid to the chairman of the board and SEK 150,000 shall be paid to each other member of the board elected by the Meeting and who is not employed by the Company. It is proposed that auditor fees shall be paid in accordance with an approved invoice.
• The following members of the board are proposed for re-election: Robin Ahlström, Björn C. Andersson and Frans Boch. Birgitta Johansson-Hedberg has declined re-election. Ramanan Raghavendran is proposed for election as a new board member, and is described further below. It is also proposed that Björn C. Andersson is re-elected as chairman of the board.

Ramanan Raghavedran began his career at McKinsey & Company and has thereafter worked in the private equity industry for 20 years - focusing on cross-border investments for the last eleven years. He is currently one of two managing partners of Kubera Partners, the manager of the Kubera Cross-Border Fund. Mr. Raghavendran co-funded Impact Partners, the first venture philanthropy fund in India. He has served on the boards of several non-profit organisations in India and the U.S. Mr. Raghavendran holds a B.S. in Finance from Wharton School and a B.S.E. in Computer Science and Engineering from School of Engineering and Applied Sciences, both schools at University of Pennsylvania. Mr. Raghavendran is a U.S. citizen.

At the annual general meeting 2009, the registered auditing company Ernst & Young AB was appointed as auditor for the period until the end of the annual general meeting 2013. At the annual general meeting 2013 an auditor will thus be appointed.

Item 12: Proposal regarding principles for appointment of a nomination committee for the annual general meeting 2013

The nomination committee proposes that the annual general meeting shall resolve to adopt principles for the appointment of a nomination committee for the annual general meeting 2013 in accordance with the following.

The nomination committee shall have three members. The chairman of the board shall contact the two largest shareholders, with respect to voting power as per the end of the third quarter of the year. These two shareholders are offered to appoint one member each to the nomination committee, in which a member of the board also shall be a member. If any such shareholder chooses not to exercise its right to appoint a member, the right shall pass on to the shareholder who, after the aforementioned shareholder, has the largest shareholding. The chairman of the nomination committee shall be elected by and from the members of the nomination committee. However, a member of the board of the Company may not be chairman of the nomination committee.

If a shareholder, who has appointed a member of the nomination committee, sells a not insignificant part of its shareholding during the tenure of the nomination committee and thereby ceases to be a shareholder with rights to appoint a member of the nomination committee, the member appointed by such shareholder should resign from the nomination committee. Such member shall then be replaced by a member appointed by the shareholder who, based on voting power following the sale, is one of the two largest shareholders in the Company. If such shareholder does not exercise its right to appoint a member of the nomination committee, the procedure above shall be applicable.

In the event a member no longer represents the shareholder who appointed him or her, or in any other way is dismissed from the nomination committee prior to the completion of the nomination committee's work, such shareholder shall be allowed to appoint a new member of the nomination committee.

No fees shall be paid to the members of the nomination committee. The nomination committee shall pursue the tasks that, according to the Swedish Code of Corporate Governance, are the responsibility of a nomination committee.

Proposals of the board

Item 8b: Appropriation of the Company's results

The funds at the annual general meeting's disposal consists of the result of the year, SEK -28,081,706, the share premium reserve, SEK 577,705,947, and the Company's accumulated profit, SEK 16,395,339, in total SEK 566,019,580.

The board proposes that the funds at the annual general meeting's disposal, SEK 566,019,580, shall be allocated as dividends to the shareholders of SEK 0.4 per share, in total SEK 5,995,418, and that the remaining unrestricted equity, SEK 560,024,162, is carried forward. Friday 11 May 2012 is suggested as record day for dividends. If the annual shareholders' meeting adopts a resolution in accordance with the proposal the dividend is estimated to be paid through Euroclear Sweden AB on Wednesday 16 May 2012.

Item 13: Proposal for remuneration guidelines for the senior management

The board proposes that the Meeting resolves that the following guidelines shall apply for remuneration to the Company's senior management for the time until the end of the next annual general meeting.

Remuneration to the Company's senior management shall be market based and competitive in order to enable the Company to attract and keep competent senior management.

Remuneration may consist of four parts: fixed salary and fees, variable remuneration, which includes share and share price related incentive programs, pensions, as well as other economic benefits.

The board decides which structure the remuneration shall consist of to fulfill its purpose most efficiently. If variable remuneration shall be paid, this remuneration shall be linked to predetermined and measurable criteria, as well as be designed with the purpose to promote the Company's long term value creation. Variable remuneration may amount to a maximum of 50 per cent of the fixed annual salary. Share and share price related incentive programs, if any, shall be designed to align the interest of the owners of the Company and the senior management.

The board shall be entitled to deviate from the guidelines above if the board, in certain cases, deems that there are special reasons to motivate such deviation.

Item 14: Proposal to authorise the board to acquire the Company's own shares

The board proposes that the Meeting resolves to authorise the board to decide on the acquisition of the Company's own shares where, principally, the following shall apply;

• 1. Acquisition of own shares shall take place on NASDAQ OMX Stockholm.
• 2. The authorisation may be utilised on one or several occasions, however not longer than until the 2012 annual general meeting.
• 3. Shares may be acquired to the extent that the Company's holding of its own shares, on any occasion, does not exceed ten (10) per cent of the Company's total shares.
• 4. Acquisition of shares may only take place at a price within the price interval, on any occasion, recorded on NASDAQ OMX Stockholm, which refers to the interval between the highest buying price and the lowest selling price.

The purpose of the proposed authorisation is to provide flexibility in relation to the Company's possibilities to return capital to its shareholders, to improve the capital efficiency in the Company, and to prevent an excessively wide NAV/share price discount in relation to the Company's shares, which altogether is deemed to be susceptible to have a positive impact on the Company's share price and thereby contribute to an increased shareholder value.

A resolution in accordance with the board's proposal shall only be valid where supported by not less than two-thirds of both the votes cast and the shares represented at the meeting.

The annual report and the auditor's report, as well as the board's proposal according to item 13-14, the auditor's statement under Chapter 8 Section 54 of the Swedish Companies Act and the board's statement under Chapter 19 Section 22 of the Swedish Companies Act will be held available at the Company's office on Grev Turegatan 10, 1st floor, Stockholm, Sweden as from Tuesday, 17 April 2012, and will be sent to the shareholders who so request and who inform the Company of their postal address. The documents, together with the nomination committee's proposals, will also be held available on the Company's website www.naxs.se. All documents above will also be presented at the Meeting.

_________________________

Stockholm, March 2012

The board of NAXS Nordic Access Buyout Fund AB (publ)

 Nordic Capital Fund VII acquires Bladt Industries - a leading foundation and substation supplier to the offshore wind energy sector
Nordic Capital Fund VII ("Nordic Capital") today announced the acquisition of Bladt Industries A/S ("Bladt" or "the Company") from Maj Invest Equity, Industri Udvikling and Bladt management.
Bladt, headquartered in Aalborg, Denmark, is an international steel contractor specializing in large-scale and highly complex steel structures. The Company serves three distinct markets, providing steel solutions for the wind and renewable energy sector, the oil and gas industry, and infrastructural projects. Its main focus is on foundations and substations for the fast-growing offshore wind energy market.
"Bladt has in recent years successfully established itself as a leading foundation supplier to the emerging market for foundations to the offshore wind energy sector. We look forward to supporting the Company in growing its business in new geographies and consolidating its European market position even further", commented Lars Terney, Partner, NC Advisory A/S, advisor to the Nordic Capital funds.
"I am pleased to have Nordic Capital as a new shareholder of Bladt. We are confident that Nordic Capital has the resources to support us in our continued focus to meet ever increasing market and customer demands, particularly within the offshore wind energy industry sector, which is expected to grow significantly in the coming years", said Peter Rindebæk, CEO of Bladt.
"As the outgoing Chairman, I am delighted and convinced that Bladt's new owners will take good care of the Company and support the continued growth and development of the Company to the benefit of all stakeholders - the employees, local community and future shareholders", said Kaj Taidal, outgoing Chairman of Bladt.
The parties have agreed not to disclose the terms of the transaction, except that the the acquisition is conditional on Competition Authorities' approval.

Publication of NAXS Annual Report 2011

NAXS Annual Report for 2011 is available from today on the Company's
website, www.naxs.se. The Annual Report is also attached to this
notice.

 Nordic Capital Fund VII ("Nordic Capital") today announced the acquisition of the Norwegian discount retailer Europris Holding AS ("Europris") from a consortium of investors led by the private equity firm IK Investment Partners. The parties have agreed not to disclose the terms of the agreement.
Europris, headquartered in Fredrikstad, Norway, is the leading mixed discount retailer with 196 stores across Norway, as well as 6 stores in Iceland. Since 2004, and through the previous economic downturn, Europris has experienced significant growth and executed a substantial retail chain expansion plan, rolling out a total of 66 stores.
"Nordic Capital has followed the development of Europris for some time and has been impressed by the performance of the company and its performance through tough retail market conditions. With the support of Nordic Capital, Europris can further strengthen its position as the leading discount retailer in Norway", commented Tom Vidar Rygh, Partner of NC Advisory AS, advisor to the Nordic Capital Funds.
The mixed discount retail sector is one of the strongest growing retail sectors in Norway, growing at a rate of 14% since 2005. The sector is still in its infancy in the country and represents only 8% of the total retail market, lower than that of its Nordic neighbours, and well below that of other European countries, such as Germany (21%). Given Europris' leading position, and proven resilience to adverse market conditions through the previous economic downturn, Europris is very well placed to benefit from the continued growth of the sector.
Following the acquisition by Nordic Capital, Europris will continue to strengthen its market position in Norway through improved customer offerings, further roll-out of stores, and investments in the existing store portfolio.
"We are very excited to be given an opportunity to realise our continuous growth plans for Europris under the support and ownership of Nordic Capital. Europris is working diligently on streamlining our operations and continuing our expansion. This has resulted in a solid sales growth, with sales for the chain topping NOK 3.6 bn in 2011", said Bjørn Maarud, Chief Executive Officer of Europris.
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"The whole Europris organisation is ready to take the next step in the company's development. I have great confidence that the sound judgement and abilities of the management team and our employees, in combination with the close cooperation and support from Nordic Capital, will demonstrate the continued strong growth prospects available to Europris in the years to come, as well as deliver improved profitability and even higher customer satisfaction", he concluded.
The agreement is subject to clearance from the Competition Authorities.
For more information, please contact:
Mikael Widell, Communications Manager, NC Advisory AB
Tel: +46 703 11 99 60
Mikael.widell@nordiccapital.com
Bjørn Maarud, Europris Holding AS
Tel: +47 69 39 66 00
bjorn.maarud@europris.no
About Europris
Europris is a mixed discount retailer with stores across Norway, from Hammerfest in the North to Kristiansand in the South. The Company also operates stores in Iceland. To accommodate efficient retail store operations, the Company has a wholesale and warehouse organisation located in Fredrikstad, Norway, which sources and distributes the vast majority of the Company's products. Europris opened its first store in 1992, and currently has nearly 200 stores, throughout the country, with total sales of NOK 3.6 bn in 2011. Europris strives to provide all its customers with a wide selection of high quality products at the lowest possible price. For more information please see www.europris.no
About Nordic Capital
Since the start in 1989, Nordic Capital Private Equity Funds have invested in large and medium sized companies, primarily in the Nordic region. Nordic Capital creates value in its investments, through committed ownership and by targeting strategic development and operational improvements. The funds invest in companies in Northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VII with EUR 4.3bn in committed capital, principally provided by international institutional investors, such as pension funds, asset managers and insurance companies. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. Additional information about Nordic Capital is available on www.nordiccapital.com

New pet care group created by some of Sweden's leading pet care providers
Some of Sweden's leading pet care providers are merging to form a national leader in pet care under the name Evidensia Djursjukvård AB ("Evidensia") with the aim to create a leading quality-oriented pet care group with national presence. Evidensia initially has 5 hospitals, 10 clinics, approximately 140 veterinarians and is represented in 14 locations in Sweden.
The units forming Evidensia are some of the largest, oldest and most reputable pet hospitals in Sweden; Strömsholm Specialistdjursjukhuset Hund och Katt, Strömsholm Specialistdjursjukhuset Häst, Södra Djursjukhuset (Stockholm), Djursjukhuset Malmö, Regiondjursjukhuset Helsingborg, as well as 10 pet care clinics located in Västeras, Köping, Enköping, Eskilstuna, Gotland, Flyinge, Trelleborg, Skurup, Ystad and Höllviken. Overall, the group has more than 550 employees, of which ~140 are veterinarians and receives 170 000 patients each year. In addition to providing advanced and basic care for dogs, cats and horses, Evidensia is engaged in extensive research and education within pet care.
The pet care industry has seen healthy growth in recent years, driven by a growing interest for pet owners to care for their pets, but from having been very fragmented the industry is undergoing a consolidation, professionalization and increasing customer focus. Evidensia's ambition is to be a proactive and leading participant in this process and the aspiration is that Evidensia shall offer pet owners the most advanced care as well as quality basic care for dogs, cats and horses throughout Sweden. Evidensia's founding entities share a vision on how high quality pet care should be conducted and how a national pet care group should be developed and operated for the benefit of pets, pet owners as well as veterinarians, pet nurses and other employees. Furthermore, the operations are geographically complementary and have different niche expertise and resources that will be shared in the group.
"There is a growing need in Sweden for a professional pet care group with a clear focus on quality of care, that can provide the most demanding and advanced care as well as high quality basic care on a national basis. In Evidensia we have a shared vision and considerable skills, experience and resources to develop and grow the operations significantly in the coming years in favor of pets, pet owners and the veterinary profession." says Anders Thunberg, CEO of Evidensia Djursjukvård AB
"Several of the units in Evidensia have worked closely together for many years and the merger is fully rational given that the units complement each other geographically." says Göran Ask, Managing Director, Djursjukhuset Malmö
"In Evidensia we can already offer owners of dogs, cats and horses a full range of veterinary care but together we will, with our shared resources and skills, further develop and improve the offering." says Donald Ribbentjärn, Managing Director, Regiondjursjukhuset Helsingborg
"This is just the start, we have an ambitious and expansive plan and the next few years will be very exciting. We believe we will be an attractive partner for pet hospitals and clinics throughout Sweden." says Olof Skarman, deputy CEO and Head of Business Development in Evidensia Djursjukvård AB (former owner of Södra Djursjukhuset)
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Owners of Evidensia are the former owners of the group companies; Stiftelsen Strömsholm Djursjukvård, Stiftelsen Svensk Djursjukvård, Olof Skarman Invest, as well as management, key personnel and the Swedish private equity group Valedo.
The transaction is subject to certain approvals and conditions and terms are not disclosed. 

 This press release is for information purposes. It does not constitute an offer to purchase or a solicitation of an offer to
sell securities.
Nordic Capital Fund VII ("Nordic Capital") today announced that it has acquired Orc Group AB ("Orc"), a leading
provider of technology and services to the global financial industry, through a recommended public tender offer.
The offer was successfully completed on January 27, with an acceptance level of 95.5 percent.
On December 19, 2011, Cidron Delfi Intressenter AB ("Cidron Delfi Interessenter"), a company indirectly wholly owned
by Nordic Capital, announced a recommended offer to the shareholders in Orc, listed on NASDAQ OMX Stockholm, for
SEK 86.00 in cash per share, corresponding to an aggregate offer value for all shares in Orc of approximately SEK 2,021
mn (approx EUR 230 mn). The offer was successfully completed on January 27 2012, with an acceptance level of 95.5
percent.
In order to enable shareholders who have not yet accepted the offer to tender their shares, Cidron Delfi Intressenter has
decided to extend the acceptance period until February 14, 2012. Cidron Delfi Intressenter intends to act to have the Orcshare
de-listed from NASDAQ OMX.
"Nordic Capital has for some time followed the development of Orc with great interest, and believes that significant
opportunities exist to further develop the businesses within Orc under concentrated and focused ownership outside of the
stock exchange where Nordic Capital can contribute significant capital resources as well as an active, long-term
ownership commitment. It is particularly exciting to nominate Per E. Larsson as the new Chairman of the Board of Orc",
states Fredrik Näslund, Partner, NC Advisory AB, advisor to Nordic Capital Fund VII.
Per E. Larsson was previously CEO of OMX, UBS in Middle East North Africa and Borse Dubai, Chairman of the Board
of the Stockholm Stock Exchange, as well as a member of the Board of Orc between 1997 and 2006.
"It will be fun and exciting to work with Orc again. I have followed Orc from a distance with great interest and I look
forward to taking part in the development of Orc in a private environment", says Per E. Larsson.
For more information about the offer from Cidron Delfi Intressenter, please see
For more information, please contact:
Mikael Widell, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital Funds

 Stockholm, January 24, 2012
PRESS RELEASE
NAXS NORDIC ACCESS BUYOUT FUND AB (Publ)
Year-End Report 2011
January-December 2011
„h Net loss (profit) for the period amounted to MSEK -9,5 (3,2).
„h Loss (earnings) per share amounted to SEK -0.64 (0.22).
„h Net asset value amounted to MSEK 562 (SEK 37.51 per share) at December 31, 2011, compared to MSEK 572 (SEK 38.13 per share) at year-end 2010.
„h Net cash amounted to MSEK 202 (SEK 13.48 per share) at December 31, 2011, compared to MSEK 270 (SEK 18.02 per share) at year-end 2010.
Fourth quarter 2011
„h Net loss for the period amounted to MSEK -28,8 (-6,6).
„h Loss per share amounted to SEK -1.92 (-0.44).
Dividend
„h The Board of Directors proposes to the annual general meeting a dividend SEK 0.4 per share, representing 50 percent of the net capital gains realized during 2011. In addition, the Board of Directors proposes to the annual general meeting to vote on a continued share repurchase mandate.

The Nordic private equity fund FSN Capital has signed an agreement to acquire PM Retail - Norway's leading women's clothing retailer targeting the 40+ segment. PM Retail is the leading women's apparel retailer focused on the 40+ segment in Norway. The Company has developed a proven and successful business model based on designing and selling fashionable clothing that addresses the specific needs and preferences of mature women. PM sells its products under its own brands and through its own network of 45 retail stores in Norway. In 2011, PM Retail had turnover of approx. 290 million Norwegian kroner with earnings before interest, taxes, depreciation and amortisation (EBITDA) of approx.. 65 million Norwegian kroner. In comparison to the previous year, turnover increased by approx. 30 percent and profit by more than 100 percent. ‘Based on a clear value proposition PM Retail has demonstrated an ability to grow revenues and profit significantly amidst a generally challenging apparel retail environment in Scandinavia. PM has built a strong brand and customer loyalty by delivering high quality, fashionable clothing that addresses specific needs of its customer base at attractive prices. We are excited to develop the company further together with its strong management team,' says Henrik Lisæth, partner at FSN Capital in Oslo. Since 2009, PM Retail has been led by CEO Per Mørck who has been driving the accelerated growth. Per Mørck will, together with his experienced management, be investing in the company. ‘We will continue to deliver fashion relevant to the needs of our customers and focus on providing great customer service. We look forward to continue to grow PM in partnership with FSN Capital', says Per Mørck. PM Retail has been owned by the Mørck family since 1987 and has generated consistent strong growth driven by a move from private label fashion to its own designs and opening of new stores. The transaction is expected to close during February 2012.