Norvestor, the majority owner of Roadworks, together with Å Energi AS, have divested Otera AS and its subsidiaries to Vinci Energies Norway AS
Roadworks and Å Energi AS have entered into an agreement, together with VINCI Energies, to divest Otera AS and its subsidiaries. The combined group will be one of the leading companies in the energy infra sector in Norway. The new entity will operate throughout the country, contributing to the local acceleration of the energy transition with more than 1,100 employees and a total turnover of €250 million in Norway.
“Vinci is excited to welcome Otera into the Vinci group. Otera and Infratek are a perfect match. The new group will be one of the leading companies in the energy infra sector in Norway. The new entity will be able to accelerate the customers’ and civil society expectations towards the energy transition, and Otera brings the strong regional roots in addition to agile and innovative structure that we greatly appreciate”, says Dominique
“Through the transaction, both Otera and Vinci will strengthen their competence and capacity to continue to deliver market leading services in the Norwegian market, with a strong position for continued growth opportunities”, says Thomas Ellingsen, CEO of Roadworks
“We are very proud of the dedicated work the Otera management team and whole organization has put into developing the company into a leading Norwegian electrical infrastructure operation, maintenance, and installation company. We would also like to thank Å Energi for a very constructive partnership during our joint ownership period”, says Christian Sontum, Partner at Norvestor Advisory.
Norvestor is a leading private equity firm focusing on mid-market buyouts in the Nordic region with offices in Oslo, Stockholm, Helsinki, Copenhagen and Luxembourg. The team has worked together since 1991 making it one of the most experienced private equity teams in the Nordics, having executed 82 investments with more than 300 follow-on M&A transactions, in addition to executing 58 exits including 16 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 www.norvestor.com
About VINCI Energies
In a world undergoing constant change, VINCI Energies contributes to the environmental transition by helping bring about major shifts in the digital landscape and the energy sector. Keeping pace with market change, VINCI Energies integrates customised multi-technical solutions to help its customers roll out technologies that serve a useful purpose and care for the planet, from design to implementation, operation and maintenance. With their strong regional roots and agile and innovative structure, VINCI Energies’ 1,800 business units have positioned themselves at the heart of the energy choices their customers make, boosting the reliability, efficiency and sustainability of their infrastructure and processes. 2021 : €15.1 billion // 85,700 employees // 1,800 Business Units // 57 countries. www.vinci-energies.com
About Å Energi
Å Energi is one of the leading companies in the Norwegian renewable energy sector. Å Energi supplies clean energy to society and is actively involved in developing the renewable energy solutions of the future. Å Energi exploits natural resources sustainably and create considerable value for our shareholders and for the society that we are part of.
Roadworks builds, operate, and maintain critical infrastructure. Through our business, we contribute to the electrification of society, road safety, and sustainable infrastructure. Roadworks has more than 800 employees in more than 25 offices from Trøndelag to Agder and has a turnover of approximately NOK 2 billion. The group’s head office is in Grimstad. Norvestor VI L.P., a fund advised by Norvestor Advisory AS, is the majority owner of Roadworks with about 80 % of the shares. Management and key employees own the rest.
Otera, is one of the leading companies in the Norwegian electrical infrastructure operation, maintenance and installation. Critical electrical infrastructure for improved grid transmission and electrical infrastructure for roads are considered key enablers for a carbon neutral society. Otera employees c 500 employees.