Veisikring Holding AS (formerly part of the Roadworks Group), majority owned by Norvestor, has signed an agreement to divest Veisikring AS to Garda Sikring Group AS (the “Garda Group”).
Veisikring Holding AS has signed an agreement to divest Veisikring AS to Garda Group. The combined group will be one of the leading road safety solutions and maintenance providers in Norway.
“We have followed Veisikring for many years and are very excited to welcome Veisikring into the Garda Group”, says Jon Ola Stokke, CEO Garda Group.
“Garda and Veisikring have complementary strengths and will create a strong unit that will be able to provide their customers with an even better service offering. The combination is a perfect match”, says Thomas Ellingsen, Chair of Veisikring AS.
“Through the transaction, both Veisikring and Garda will strengthen their competence and capacity to continue to deliver market leading services in the Norwegian market”, says Christian Sontum, Chair of Veisikring Holding AS and Partner in Norvestor Advisory.
Norvestor is a leading private equity company 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 84 investments with over 400 add-on acquisitions, in addition to executing 59 exits, including 16 IPOs. The Fund seeks 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.
The Garda Group offers installation, service, and maintenance for a wide range of mission critical products and services within perimeter and mechanical security, technical security, road safety and industrial doors. The Group aims to further develop the service and product offering while accelerating geographical expansion organically and inorganically. A fund managed by EMK Capital is the majority owner of the Group.
Veisikring has decades of experience in road safety and bridge maintenance. The company has a comprehensive service and product offering through an international supply chain network. A fund managed by Norvestor Advisory AS, is the indirect majority owner of Veisikring with about 80 % of the shares. Management and employees own the rest.