Country HQ
Sweden
Sector
Consumer Services
Fund
Norvestor VIINorvestor SPV II
Investment Dates
Exit Date
-
Norvestor VII partnered with First Camp, then Nordic Camping & Resorts, a Swedish camping operator with 14 sites, sharing its management team’s vision to consolidate the highly fragmented and under-digitised Nordic camping market. At the time, most campsites were family-run, lacked modern digital infrastructure, and operated without scalable systems, offering a rare opportunity to professionalise and lead the sector.
Leading Change
First Camp expanded its footprint and capabilities through acquisitions across Sweden, Denmark, Norway, Finland, Germany, and Switzerland. Alongside this expansion, the company underwent an extensive digital transformation, implementing mobile check-ins, online booking, and CRM tools, which enhanced both operational efficiency and guest satisfaction.
Building Scale and Strength Through Integration
As First Camp scaled, Norvestor focused on integrating acquired sites into a unified brand and operating model. This included harmonising pricing structures, implementing centralised support systems, and rolling out a shared technology stack across all destinations. Operational synergies drove margin improvement, while the expanded footprint allowed First Camp to offer a consistently high-quality guest experience at scale. These strategic integrations solidified First Camp’s position as the clear Nordic leader, transforming it from a collection of individual sites into a nationally recognised hospitality brand.
Through our partnership with Norvestor, we will create thousands of memories lasting a lifetime, thanks to significant investments in staff resources, technology and in our destinations.
Johan Söör, CEO.
Tangible Impact
First Camp evolved into the largest camping operator in the Nordics. Its scale now spans 88 destinations, offering guests cabins or camping spaces with a wide range of on-site recreational activities, shops, restaurants, and facilities. The heart of the business are employees with a passion for providing outstanding hospitality. The digital upgrades elevated guest loyalty and brand strength, while environmental credentials solidified its role as a sustainable tourism leader. First Camp was divested to a continuation vehicle, Norvestor SPV II, in August 2022.
Learn more about our portfolio companies
Norvestor takes an active ownership approach, with its funds investing in companies where they obtain a significant strategic position. Value creation is driven through board-level engagement and close collaboration with management teams to support long-term growth and strategic development. Case examples presented illustrate how this approach has supported current and former portfolio companies on their growth journeys.