We first heard about the waste-management firm Sortera through our network. We took a closer look at the company and were impressed by its customer focus and service concept. The company’s young, competent and ambitious management team also made a favourable impression.
Supporting a fast-growing company
We decided to invest in 2012, seeing a great opportunity to enter a niche market. At that time, the company focused on collecting and sorting waste from builders, particularly heavy-duty builder bags. Priding itself on being a full-service supplier, Sortera also offered a rental service of waste containers. The Nordic building and renovation market were thriving, and we saw a great growth opportunity.
Meanwhile, Sortera saw in us a partner to help make their expansion goals a reality. Under our ownership, Sortera expanded to Oslo and Gothenburg and invested in a new sorting facility and sales office to accelerate growth. The company also increased its sales force and introduced new products and services. Two acquisitions followed in 2015. At exit, Sortera had operations in four cities, and a proven ability to extract significant synergies from accretive acquisitions.
Norvestor has been an important partner in defining and supporting Sortera in the execution of our growth strategyHenrik Westöö, co-founder and CEO of Sortera
How did the business grow with Norvestor as owners?
- The company expanded to Oslo and Gothenburg
- Invested in strategically situated sorting facilities in Stockholm
- Made two major acquisitions
- Increased the sales force and introduced new products and services – bins and hazardous waste collection