Norvestor divests Nomor
Norvestor VI, L.P. (“Norvestor”), has completed the divestment of Nomor Holding AB and its subsidiaries (together “Nomor” or the “Company”), to ServiceMaster Global Holdings, Inc. (NYSE: SERV) (“ServiceMaster”). Nomor is the fourth largest pest control company in Europe, with nationwide coverage in Sweden and Norway.
“Following several years of dialogue, we entered into a partnership with Nomor in May 2014. Since then, we are very pleased to have supported the management team in the development of its organisation and operations and its successful buy-and-build strategy. During our ownership, Nomor has made 9 strategic acquisitions in Norway and Sweden and increased revenues from SEK 104 million in 2013 to approximately SEK 500 million. Nomor is today the fourth largest pest control company in Europe with an experienced management team ready for continued European expansion. For Norvestor, Nomor has been an outstanding investment”, says Fredrik Korterud, Partner at Norvestor Equity and chairman of Nomor Holding. “The partnership with Norvestor has been a key enabler in the development of Nomor from an entrepreneurial challenger in Sweden to a leading Nordic platform, and we are very excited to continue our European growth journey together with ServiceMaster, leveraging knowledge and expertise from a world-leading pest control services organisation”, says Svein Olav Stölen, CEO of Nomor Holding. Norvestor was advised by ABG Sundal Collier, The Potomac Company, PwC and Törngren Magnell.
For further information: Fredrik Korterud, Partner Norvestor Equity Telephone: +47 402 11 402 Email: firstname.lastname@example.org
Svein Olav Stölen, CEO Nomor Telephone: +46 70 366 56 66 Email: email@example.com
Nomor is the second largest pest control company in Sweden and Norway operating nationwide within three service areas; Pest control, Food safety and Home & House. Customers include among other insurance companies, property owners, municipalities and the HoReCa industry. Nomor’s corporate headquarter is in Sollentuna outside of Stockholm, Sweden. Read more at www.nomor.se Norvestor is a leading private equity company focusing on lower mid-market buyouts in 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 71 investments with >250 add-on acquisitions, in addition to executing 48 exits, including 15 IPOs. Norvestor focuses on investment opportunities in growth companies, making platform investments principally in Norway and Sweden, with potential to achieve a leading Nordic or international position either through organic growth, through acquisitions or by expanding into new countries. Read more at www.norvestor.com