Valedo Partners Fund II AB (“Valedo”) has divested its ownership in Norva24 Group AB (“Norva24”) to Apax Funds, following a public offer supported by Valedo and other major shareholders, resulting in acceptance from 98% of the shareholders. During Valedo’s ownership, Norva24 has, through a combination of organic growth and an ambitious M&A agenda, grown revenue by 40x and become the leading underground infrastructure maintenance services player in Northern Europe with leading positions in Norway, Denmark, Germany and Sweden.
“During the past ten years, Norva24 has developed from a local player in the Oslo region with NOK ~100m revenue into the leading provider of underground infrastructure maintenance services across Northern Europe, with revenues of NOK ~4bn. With Valedo’s support, Norva24 expanded into new markets and completed more than 50 acquisitions, while continuing to focus on local customer needs. I want to thank our employees, management team, board members and owners for the commitment, hard work and achievements over the last decade.”
Arild Bødal, Chairman of the Board, Norva24
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 with both capital and industrial experience, Valedo ensures that a company can achieve its full potential.