3i, the pan-European venture capital firm, has had its $848m (€950m) offer for Atle, a Swedish quoted private equity firm, declared unconditional with acceptances from 97% of Atle's shareholders.

3i made its offer in tandem with Ratos, also a quoted Swedish private equity firm, through Woodrose Invest, which 3i and Ratos jointly own. Atle's portfolio will be divided between 3i and Ratos in a 60:40 split. The acquisition is 3i's fourth in the last twelve months and is expected to be its final burst of non-organic growth in Europe for the foreseeable future. Atle's team will join 3i and become the focus for its Swedish investment business.