Norvestor divests Kabal


Norvestor VII, L.P. and Norvestor VII, O.S. (“Norvestor”) have signed an agreement to divest Kabal Holding AS and its subsidiaries (together “Kabal” or the “Company”) to Insight Venture Management LLC (“Insight Partners”). Kabal is a fast-growing provider of logistics software to the global energy industry.

Since Norvestor invested in Kabal in January 2019, the Company has become the global standard for the offshore energy industry. Kabal has grown significantly and today works for more than 50 operators, including all the supermajors, an achievement that very few companies of their size have achieved. In addition, their software is used by 6 500 supplier companies and more than 50 000 individuals worldwide. More than 90% of the revenue is license-based recurring revenue, and Kabal has had zero churn during their 12 years of operations. The Company enables significant efficiency gains for its customers, saving both money and the environment. During Norvestor’s ownership, Kabal has grown from NOK 58 million in revenue in 2018 to NOK 171 million in 2022, representing an annual growth of 31%. This growth has further led to Kabal today enabling operators to reduce their CO2 emissions with an estimated 12.9 million tons per annum, equivalent to a reduction of 8.5 million cars. The Kabal software has become a true enabler of massive environmental impact on the energy industry

“Working together with Jan Inge and the management team has been a privilege and a fantastic journey, and we are very happy with their achievements during our time together. Kabal has grown rapidly while remaining highly profitable all the time. In this new setting, Kabal will have the opportunity to continue the journey as a leading global logistics platform for the energy industry. We wish them all the best in the next phase”, says Tor Erling Gunnerød, Partner in Norvestor.

“We have had a great partnership with Norvestor, and they have been a strong supporter in our development and the growth that we have achieved, including the acquisition of Flinke Folk. The Norvestor team has supported us and helped us develop into a global player. With that said, we are very excited to join forces with Insight Partners, and I am confident that we will continue to grow globally”, says Jan Inge Pedersen, CEO of Kabal.

Norvestor was advised by Raymond James, McKinsey, PwC and Schjødt and the deal is signed and closed.

For further information:

Tor Erling Gunnerød, Partner Norvestor

Telephone: +47 92 05 53 55


Jan Inge Pedersen, CEO Kabal

Telephone: +47 97 96 20 45


Kabal (formerly Wellit) is the world’s leading software solution for energy industry logistics. Today, the Kabal software has become a must-have tool for any energy company looking to optimize operations. The software is used by over 6 500 companies and 50 000 individuals worldwide. Read more at