Norva24, the leading provider of Underground Infrastructure Maintenance (“UIM”) services in Northern Europe, has successfully listed its shares on Nasdaq Stockholm with first day of trading 9 December 2021.
Norva24’s vision is to become the leading European operator in the UIM market and to drive the development of the UIM industry in Europe through continued organic and acquisitive growth, as well as through focus on green initiatives, ESG reporting and IoT solutions. The listing and capital increase is an important next step in Norva24’s continued development as it further strengthens the company’s balance sheet, which will enable the company to continue its ongoing M&A consolidation of the UIM industry.
Valedo will remain the largest shareholder with around 30 percent of ownership in 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, and are provided to a diversified customer group consisting of municipal, commercial, B2B and residential customers. Norva24 has revenues of more than NOK 2 billion and employs over 1 400 employees.
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.