Norvestor invests in the reverse logistics provider SmartRetur


A fund advised by Norvestor Advisory AS has acquired the majority of the shares in SmartRetur (“the Company”), a Nordic market leader within reverse logistics of reusable packaging.

SmartRetur has differentiated itself by leveraging a comprehensive warehouse infrastructure and innovative and digital solutions to create cost effective and reliable logistics services. Its services include handling, trading, transport and storage of pallets and miscellaneous reusable packaging formats. The Company is a pioneer and facilitator of the circular economy, helping customers to reduce costs while reducing the environmental footprint of logistics. Additionally, SmartRetur also provides third-party logistics services for the last-mile delivery market. SmartRetur was founded in 2001 and handles approximately 10 million pallets and serves close to 500 customers annually in Norway, Sweden and Denmark. The Company is headquartered in Oslo, Norway, and has revenues of c. NOK 490 million.

“We are very excited about partnering with Norvestor as we believe they are a great match for SmartRetur. Norvestor has extensive experience from expansion of Nordic business services companies. With Norvestor onboard, we will be able to accelerate growth significantly”, says Søren Eriksen, CEO and co-owner of SmartRetur.

“We are deeply impressed by how SmartRetur has built a market leading position within reverse logistics in Scandinavia, a fragmented market with large potential for further development and limited exposure to the economic cycles. The Company fits very well with Norvestor’s experience in backing service companies with strong drive and ambitious growth plans. We look forward to supporting Søren and his team’s initiatives to further grow SmartRetur by increasing its service portfolio, expanding geographic reach and further developing digital capabilities and sustainable solutions”, says Fredrik Korterud, Partner at Norvestor Advisory and Chair designate at SmartRetur.

Following the acquisition, Norvestor is the largest shareholder in SmartRetur with c. 75% of the shares. The current CEO and co-owner has reinvested to hold the remaining shares.

For further information:

Fredrik Korterud, Partner at Norvestor Advisory

Telephone: +47 402 11 402


Søren Eriksen, CEO SmartRetur

Telephone: +47 911 99 815


SmartRetur is a Nordic market leader in reverse logistics with strong credentials in 3rd and 4th party logistics. The company serves blue-chip clients across the region with an extensive network of warehouses and centres for repackaging and repair, innovative solutions and a state-of-the art digital platform offering clients reliable and cost-effective logistics with full control over all packaging assets in real time. The company’s vision is to be a SmartReturn on Investment for its clients and for the environment through the most cost effective and technologically smart ways to deliver the logistics. SmartRetur is passionate about finding the right way to solve any customer need. Read more at

Norvestor is a leading private equity firm focusing on mid-market buyouts in the Nordic region with offices in Oslo, Stockholm, Helsinki and Luxembourg. The team has worked together since 1991 making it one of the most experienced private equity teams in the Nordics, having executed 72 investments with more than 250 follow-on M&A transactions, in addition to executing 51 exits including 15 IPOs. The Norvestor funds seek to invest in growth companies in the Nordic mid-market that have potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries and by geographic expansion. Read more at