Norva24 acquires platform in Southern Germany

Norva24 has acquired Kanal-Türpe, a leading provider of Underground Infrastructure Maintenance (“UIM”) services in Southern Germany with operations in Gerolzhofen, Fulda and Blomberg. The acquisition significantly strengthens Norva24’s leading position in the highly fragmented UIM market in Northern Europe.

Kanal-Türpe has more than 50 years of experience in the industry, revenues of approximately EUR 20 million and a comprehensive service offering within UIM services. The company is headquartered in the central parts of Southern Germany and operates around 100 vehicles. In addition to the acquisition of Kanal-Türpe, Norva24 has also recently completed one acquisition in Stockholm and two smaller acquisitions in Germany, with operations in Lübeck and Lüneburg.

“We are very excited to welcome Kanal-Türpe to Norva24. Following our market entry into Germany in 2019 through the acquisition of Ex-Rohr, we now further strengthen our position as the emerging market leader in Germany. Furthermore, the acquisition implies that Norva24 now has revenues of close to NOK 2 billion, which is an important milestone in our vision to become the clear market leader within UIM services in Europe”, says Henrik Damgaard, CEO of Norva24.

The terms of the deal will not be disclosed.

For more information about Norva24, please contact:

Henrik Damgaard, CEO

About Norva24:
Norva24 is the undisputed category leader in the highly fragmented UIM services market in Northern Europe, with leading position in Norway, Denmark, Sweden and Germany. Service offering includes mission-critical and non-discretionary maintenance services for underground infrastructure (“UIM”), such as pressure washing, emptying service, pipe inspection and relining. Norva24’s vision is to become a lighthouse in the development of the UIM industry in Europe through green initiatives, ESG reporting and IoT solutions. Norva24 has revenues of close to NOK 2 billion and employs around 1 200 employees.

About Valedo:
Valedo is an independent Swedish investment company investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential.

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