Norvestor acquires Jets Group, a global leader in vacuum sanitation technology

Norvestor X SCSp (“Norvestor”) has signed an agreement to acquire Jets Group (“Jets”) from Stokke Industri, the Øvsthus family and other shareholders.

Jets is a global market leader in vacuum-based sanitation technology, holding leading market positions across maritime and land-based applications. Building on 40 years of know-how, Jets uses its core vacuum technology to serve a wide range of blue-chip customers across cruise, ferry, merchant, navy, offshore and yacht in addition to providing mobile sanitation for events, worksites, retail and buildings worldwide. More than 80,000 Vacuumarator pumps have been sold to date, and Jets systems are installed on more than 13,000 vessels worldwide.

“Jets has been on our radar for a long time as a highly reputable solution provider to the maritime industry and an integral part of the technology cluster in the Sunnmøre region alongside several of our portfolio companies” says Per-Ola Baalerud, Partner at Norvestor Advisory. “Based on its globally leading position within the maritime industry developed over four decades, Jets’ expansion into land applications for its well-proven vacuum technology has really started to pay off during the last few years under the stewardship of Stokke Industri and is representing a highly interesting growth driver for the company.”, Baalerud added.

Jets’ vacuum technology saves freshwater and energy and provides best in class sanitation solutions. Its vacuum toilets use up to 90% less water per flush than conventional toilets, and Jets systems in operation save more than 27 million litres of drinking water every day compared to conventional technology. Vacuum collection also cuts sewage volumes by up to 80%.

“It has been a privilege to work alongside Stokke Industri and our other shareholders to develop Jets over the past nine years,” says Øyvind Tørlen, CEO of Jets. “Together with the rest of the Jets team, I am truly excited about the journey ahead, and we welcome Norvestor as our new majority shareholder. Their long-standing experience and in-depth understanding of our business and markets will be a strong support to our future growth.”, Tørlen added.

“During our time as lead and majority owner of Jets, we have contributed with our network, best knowledge, and competence in governance, strategy, innovation and business development. We have seena strengthening of the organisation, product development and customer focus. The company has grown consistently both in maritime and land segments and has become a global leader in vacuum sanitation technology.”, says Geir O. Løseth, CEO of Stokke Industri.

“Stokke Industri’s and the other shareholders’ ambition has been - and is - to ensure that Jets has the right ownership to unlock its full potential. We believe Norvestor has the best capabilities, competence and resources to support Jets’ continued development and long-term growth.”, Thomas Øybø, Executive Chairman of Stokke Industri added.

Jets is headquartered in Hareid in the Sunnmøre region in Norway. Revenues (2025) were c. NOK 1 billion and the company has c. 220 employees across its offices and assembly sites.

The transaction is expected to be completed no later than December 2026.

Stokke Industri was advised by Citigroup Global Markets Europe (Exclusive Financial Advisor) and BAHR (Legal Advisor).

Norvestor was advised by Schjødt (Legal Advisor).

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Jets is a global supplier of eco-efficient vacuum and waste-handling technology, headquartered in Hareid, Norway. Rooted in the Norwegian maritime cluster, the company develops, manufactures and sells vacuum toilets, vacuum systems and treatment plants on every continent. Read more at www.jetsgroup.com

Stokke Industri is a family-owned investment company with a long-standing industrial heritage and a proven track record of building successful businesses. The main owner is Rune Stokke. The company invests across industrial businesses, real estate and financial assets, combining capital, extensive industrial and financial expertise, and a strong network. As an active and long-term owner, Stokke Industri focuses on innovation, execution capabilities and profitable growth. Through close collaboration with ambitious management teams, the company takes a long-term approach to developing businesses and investments, building brick by brick to unlock their full potential. The ambition is to create sustainable value for its companies, partners, society and future generations. Read more at www.stokkeindustri.com

The Norvestor Group is a leading private equity company focusing on mid-market companies based in or with strong ties to the Nordic region. The team has worked together since 1991, making it one of the most experienced private equity teams in the Nordics, having executed more than 100 platform investments with more than 800 add-on acquisitions, in addition to 62 exits, including 16 IPOs. The team comprises 62 professionals, with offices in Oslo, Stockholm, Helsinki, Copenhagen, Berlin, London, Zug and Luxembourg. Norvestor funds target growth companies in the Nordic and European mid-market that have the potential to achieve a leading regional or international position, by investing in people, capabilities and initiatives that drive sustainable organic growth, as well as through acquisitions across fragmented industries or geographic expansion. The Norvestor group currently advises and manages funds with assets under management of c. EUR 11 billion. Norvestor’s current portfolio companies employ more than 30,000 people and generate more than NOK 50 billion in revenue. Read more at www.norvestor.com