Nordic Camping & Resort
As a Norvestor portfolio company, Nordic Camping & Resort (NCR) has grown to become Sweden’s largest camping site operator with 26 camping sites. While Stockholm-based NCR is the leading camping site operator in Sweden, its highly fragmented, growing and profitable market provides ample of opportunities to drive consolidation of the industry. NCR also enjoys significant organic growth potential from capacity expansion on its existing sites.
NCR was founded in 2002 by two entrepreneurs with background from the charter and tourist industries. They believed that the highly fragmented Swedish camping market needed a professional operator with a chain concept under one brand, benefitting from economies of scale. Norvestor first approached NCR during summer 2016 at the time it was listed on the Swedish trading platform AkieTorget and presented a bid that was accepted in December 2016.
Challenge and Our Approach
Working closely with NCR, the management team and organisation has been strengthened with a CEO, CFO, CCO and Head of M&A and Expansion. Experts have been added within dynamic pricing, digital marketing, and real estate. Norvestor has also been instrumental in initiating digitalization projects to improve NCR’s digital profile and marketing efforts, and in initiating expansion projects at several NCR sites. Norvestor has assisted NCR in securing an SEK 200 million debt facility aimed at M&A and investments at existing sites and in an ongoing evaluation of add-on candidates and geographical expansion opportunities.
With support from Norvestor, NCR has accelerated its M&A agenda. 12 new sites were added in 2017 and 3 in 2018. The company and its customers benefit from site upgrades and an enhanced digital presence increasing bookings and making the booking process more convenient. NCR expects continued, strong revenue development in coming years.
«With Norvestor's backing we seek to become Nordic and other nations’ families’ preferred chain of camping resorts. Through our partnership we will create thousands of memories lasting a lifetime, thanks to significant investments in staff resources, technology and in our destinations.»
Johan Söör, CEO of NCR.