Norvestor establishes Marina Group, a group of full-service marinas across the Nordics
Norvestor Nova I SCSp (“Norvestor”) has signed agreements to acquire five leading marinas in Sweden and Norway to develop and consolidate the highly fragmented market for boat services across the Nordics. The recently established Marina Group is led by a highly experienced team combining key people from the acquired companies and a group management team with experience from similar customer-centric growth journeys
The Nordics has a vibrant boating community with local marinas and boat service companies in practically every bay along the coast. The Nordic climate requires special attention and results in increased demand for services. Marina Group will focus on enhancing the customer experience to make boat ownership trouble-free while preserving boat values and caring for the environment.
“For more than a decade, we have been looking for an entry into the fragmented Nordic market for boat services”, says Per-Ola Baalerud, Partner at Norvestor Advisory. “Norway, Sweden, and Finland are all on the top 10 list of countries with the highest number of leisure boats in the world, while the availability of essential year-round services to boat owners is still rather limited and lagging other similar consumer segments in terms of scope, quality, and reliability of services.” Baalerud finishes.
Norvestor has teamed up with a seasoned management team with experience from consolidation in other industries, which, together with the highly experienced teams at the acquired marinas, represents a unique combination in the boat services industry. “I am truly excited about the launch of Marina Group and the journey ahead, developing the leading Nordic boat services group” says Morten Hofstad, co-founder and Executive Chair of Marina Group.
Together with Hofstad, Jan Frode Johansen, co-founder and CEO of Marina Group, has extensively assessed potential marinas to form the starting point for the group while being prepared for the next wave of acquisitions which are already well-progressed. The first marinas to join the group are leaders in their regions and consist of the three Marindepån marinas in the Stockholm region, Vindö Marin located on Orust on the Swedish west coast and Stathelle Marina in the outer Oslofjord region. “We are just getting started” says Johansen. “By combining local expertise with strong group capabilities and shared best practices, we are creating a platform for sustainable growth that benefits employees, partners, and customers alike.” Johansen continues. “With Norvestor as financial partner, we have access to vast experience from similar growth journeys as well as the financial capacity to grow through acquisitions and develop the group while investing in people, critical technology, infrastructure, and environmental initiatives long overdue in the industry.” Johansen concludes.
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For further information:
Per-Ola Baalerud, Partner, Norvestor Advisory
Tel.: +47 916 30 007
Email: pob@norvestor.com
Morten Hofstad, Executive Chair, Marina Group
Tel.: +47 997 17 020
Email: mh@marinagroup.no
Jan Frode Johansen, CEO, Marina Group
Tel.: +47 982 39 928
Email: jfj@marinagroup.no
Marina Group is the leading Nordic owner and operator of full-service marinas, offering comprehensive solutions for berthing, boat storage, maintenance, and care. With its customer-centric approach, the company ensures that boat ownership is seamless and enjoyable year-round. Combining local expertise with modern facilities, Marina Group supports boat owners across the Nordic region with reliable and professional services. The group aims to raise the standard for marina operations in the Nordics and set a new benchmark for service, sustainability, and customer satisfaction. Read more at www.marinagroup.no
Norvestor Advisory is a leading private equity company focusing on 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 100 investments with more than 660 add-on acquisitions, in addition to executing 66 exits, including 16 IPOs. The Norvestor funds seek to invest in growth companies in the Nordic mid-market that have the potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries or by geographic expansion. Read more at www.norvestor.com