Norvestor invests in HydraWell


Norvestor invests in HydraWell

Norvestor VIIL.P.and Norvestor VII OS L.P.(“Norvestor”), funds managed by Norvestor Equity AS,
has signed an agreement to invest in HydraWell Intervention AS(“HydraWell”)

HydraWell is a rapidly growing well integrity specialist providing a range of step-changing proprietary tools and associated services to oilfield operators and services integrators.
HydraWell specialises in safe and highly efficient plugging & abandonment(“P&A”)
, slot recovery and well repair. The company has developed its technology and products in close collaboration with leading operators on the Norwegian Continental Shelf(“NCS”), and has
successfully placed more than 150 plugs in wells across the globe since 2010.

“As a result of our strong track-record on the NCS, we have seen an increasing
international interest for our tools and services. We are currently running operations in Abu
Dhabi, Malaysia,the Netherlands, Denmark and the UK in addition to the high activity level in Norway. We realised some time ago that we need support in the continued development and internationalisation of HydraWell,and are pleased to have Norvestor on-board as our
partner for this exiting journey”, says Odd Engelsgjerd, outgoing chairman of HydraWell.

“HydraWell is an ideal platform investment for Norvestor with a highly experienced team and
a well proven product-and service offering providing operators significant cost savings.
In addition to a robust P&A market, HydraWell has a compelling offering towards
well repair and infill drilling, which is expected to grow significantly with a continued rebound in the oil price”, says Per-Ola Baalerud, Partner in Norvestor Equity and chairman designate in HydraWell.

Following the acquisition, Norvestor will become the largest shareholder in HydraWell with approximately 60% of the shares, while the remaining shares will be held by founders, management and employees.
HydraWellhad revenues of NOK 83 million in 2015
and is experiencing strong growth.
HydraWell employs 25 people in its headquarters outside Stavanger.

Categories: News


Nordic Capital has sold its remaining shares in Thule – now established as a global leader in the sports and outdoor industry

Nordic Capital Logo

Global leader in the sports and outdoor industry Thule sold by Nordic Capital

Nordic Capital Fund VII (“Nordic Capital”) has sold its remaining shares in Thule Group AB (“Thule”). Following the sale, Nordic Capital Funds no longer hold any shares in Thule, after a nine year holding period under which Thule has been transformed and developed into a consumer-oriented global leader in products for an active and mobile lifestyle.

“It has been rewarding to follow and support Thule’s journey to the modern and international consumer company it is today. Through support during rough patches and a strategy that has involved both investing in new business areas and divesting others, Thule is now a strong, profitable and established listed company”, says David Samuelson, board member in Thule and Director, NC Advisory AB, advisor to the Nordic Capital Funds.

Nordic Capital Fund VI acquired Thule in 2007 and in November 2014 Thule Group was listed on NASDAQ Stockholm. Under the motto “Active Life, Simplified”, the Thule Group offers products in four product categories:Sport&Cargo Carriers, such as bike carriers and roof boxes,Bags for Electronic Devices,Other Outdoor&Bagsincluding amongst others Sport & Travel Bags and Active with Kids, andWork Gear.

Nordic Capital Fund VI acquired Thule in 2007. During 2007, two larger acquisitions, Case Logic and UWS both located in the US, were made to strengthen the product offering. The global crisis in 2008 led to a focus on profitability improvement. In 2009, a new consumer-oriented strategy with a new global retail concept was introduced, followed by a launch of several new product areas as for example the Thule Crossover bags collection. In 2010 Nordic Capital Fund VII invested in Thule alongside Fund VI. Canadian based Chariot Carriers, one of the world’s leading designers and developers of multi-functional child carriers, was acquired in 2011 to further strengthen the focus on products making it easy for people to transport the things they cherish.

In 2014, the business area Trailer was divested in line with the strategic direction to focus the Thule Group’s business on outdoor and sport products for active consumers. Furthermore, the Towbar division was spun-off to become the separate stand-alone entity Brink Group, allowing both Thule and Brink to continue with full focus on their respective core businesses.

“We would like to thank the management and team of Thule for their hard work and collaboration. This is an example of a company where a combination of investments in product development, a new group structure, and focus on operational improvements have created a global leader that will be able to continue to develop going forward”, concludes David Samuelson.

Contact information:

Nordic Capital
Katarina Janerud, Communication Manager
NC Advisory AB, advisor to the Nordic Capital Funds
tel. +46 8 440 50 50


About Nordic Capital

Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see


Categories: News


Nestlé and R&R to create Froneri, an ice cream and frozen food joint venture

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PAI Partners

Nestlé and R&R, a leading ice cream company based in the UK, have agreed to set up Froneri, a joint venture with sales of around CHF 2.7 billion in over 20 countries employing about 15,000 people.

Froneri will be headquartered in the UK and will operate primarily in Europe, the Middle East (excluding Israel), Argentina, Australia, Brazil, the Philippines and South Africa. The new company will combine Nestlé and R&R’s ice cream activities in the relevant countries and will include Nestlé’s European frozen food business (excluding pizza and retail frozen food in Italy), as well as its chilled dairy business in the Philippines. The transaction is subject to employee consultations and the approval of regulatory authorities. Financial details are not being disclosed.

Paul Bulcke, Nestlé CEO:
“This is an exciting growth opportunity in a dynamic category. Froneri will capitalise on complementary strengths and innovation expertise, combining Nestlé’s strong and successful brands and experience in ‘out-of-home’ distribution with R&R’s competitive manufacturing model and significant presence in retail.”

Ibrahim Najafi, R&R Ice Cream CEO:
“I am thrilled about the potential of Froneri and the opportunity for R&R to combine with the biggest and best food business in the world. R&R has gone from strength to strength in the last few years and the blend of people from the two organisations will create a leading team, ideally suited to drive future growth.”
Frédéric Stévenin, Partner at PAI Partners: “Froneri, through the combination of Nestlé’s and R&R’s expertise, and the backing of PAI Partners, is a unique and exciting opportunity for further strong growth. We look forward to further leveraging our industrial approach to ownership and strong consumer expertise to support R&R in this new venture.”

Luis Cantarell, Nestlé Executive Vice President Europe, Middle East and North Africa, will chair Froneri’s Board of Directors which will be composed of three senior Nestlé executives and three senior executives appointed by private equity firm PAI Partners, R&R’s owner. Ibrahim Najafi will be Froneri CEO. Nestlé and PAI will have equal equity interests in the joint venture.

Categories: News


Schlumberger Acquires Meta Downhole Limited

Schlumberger Acquires Meta Downhole Limited

Unique metal-to-metal sealing technology expands Completions portfolio

HOUSTON, March 24, 2016—Schlumberger today announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company that offers technology and expertise to provide downhole metal-to-metal isolation solutions in well integrity applications.

“With Meta’s unique proven technologies, we will take a quantum leap forward in advancing our downhole completions technology offering,” said Olivier Le Peuch, president, Completions, Schlumberger. “When combined with their metal-to-metal isolation expertise and operational track record, we can offer our customers reliable and flexible solutions to address downhole isolation challenges.”

The company’s Metalmorphology® technology uses established principles to shape metal downhole that reliably conforms to the geometry of the wellbore casing or liner, delivering permanent metal-to-metal isolation. Once implemented, operators have a gas-tight, axial load-bearing and compliant life-of-well solution.

Meta technology can be deployed in a wide variety of applications to improve structural and casing integrity, seal tie-backs in new wells, isolate selected zones, facilitate slot recovery or assure plug-and-abandonment integrity.

Meta is headquartered in Aberdeen, Scotland, and has offices in three locations globally with 30 employees. For more information on Meta Downhole Limited, please visit

About Schlumberger
Schlumberger is the world’s leading supplier of technology, integrated project management, and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 95,000 people representing over 140 nationalities and working in more than 85 countries, Schlumberger provides the industry’s widest range of products and services from exploration through production.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $35.47 billion in 2015. For more information, visit

For further information, contact:

Susan Ganz
Corporate Public Relations Manager – Western Hemisphere
Tel:+1 713 513 1944

Categories: News


Norvestor divests Sortera Skandinavien Holding AB

Norvestor sortera

Norvestor divests Sortera Skandinavien Holding AB

Norvestor VI, L.P. (“Norvestor”) has signed an agreement to divest Sortera Skandinavien Holding AB(“Sortera”),a leading Nordic building waste collection and sorting provider currently active in Stockholm, Gothenburg, Uppsala and Oslo, to Summa Equity, following a structured sales process that attracted strong interest.

Norvestor invested in Sortera in May 2012. During Norvestor’s ownership, the company has more than doubled in size , and almost tripled its underlying EBITDA, through greenfield establishments in Gothenburg and Oslo,two small add-on acquisitions in Stockholm, and strong organic growth.

Additionally, the service offering has expanded to also include waste bins and hazardous waste services, and in 2015 Sortera invested in a second sorting facility in Stockholm.

Sortera currently has approximately 3,500 customers, more than 90 mployees, four offices and two sorting facilities. In 2015, the proforma revenue amounted to SEK 193 million.

“During the last four years, Sortera has solidified its position as a leading player in the niche market for collection and sorting of building material waste in Sweden, and has established a foothold in Norway. Management and Sortera’s dedicated employees have demonstrated an outstanding ability to deliver growth and profitability superior to its competitors. For Norvestor, the investment in Sortera has been successful, and we are pleased that Summa Equity sees the potential to continue the successful development of the company together with its management team that will reinvest alongside

Summa Equity”, says Fredrik Korterud, Partner in Norvestor and Outgoing Chairman of Sortera. “Norvestor has been an important partner in defining and supporting Sortera in the execution of our growth strategy; focusing on environmental Solutions, and offering waste solutions to construction companies With increased flexibility, high reliability, short lead times, excellent quality and great customer support”, says Henrik Westöö, co-founder and CEO in Sortera.

“Sortera is , and will continue to be, characterized by high supply chain efficiency through optimised logistics and experienced management with a hands-on operational approach. We now look forward to expand our business further with our new owner, Summa Equity”, says Conny Ryk, co-founder and Deputy CEO/CFO in Sortera.

Norvestor was advised by Danske Bank and Advokatfirman Törngren Magnell.

The transaction is expected to close at the end of April 2016, and the parties have agreed not to disclose the terms of the transaction.


For further information:

Fredrik Korterud, Partner in Norvestor Equity AS

Telephone: +47402 11 402

Henrik Westöö, CEO in Sortera

Telephone: +46 707 755 311



Conny Ryk, Deputy CEO/CFO in Sortera

Telephone: +46 707 755 310

Sortera Skandinavien Holding AB is one of the leading providers of building waste management services with particular focus on the builder bag segment in the Stockholm region. In addition to collection of waste in Stockholm, Gothenburg and Oslo, Sortera also owns and operates two sorting facilities in Stockholm. Sortera was established in 2006 by Conny Ryk and Henrik Westöö and is known for its strong customer service culture. Read more at 

Norvestor Equity AS 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 Norway, having executed 58 investments with 247 follow-on M&A transactions, in addition to executing 41 exits including 14 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. Funds advised by Norvest or are currently invested in the following portfolio companies; Life Europe, Johnson Metall, Sentech (formerly Advantec Sensing), Apsis, Aptilo, Cegal, Marine Aluminium, Crayon, ABAX, Robust, iSurvey, Future Production, Nomor, PG Flow Solutions, Roadworks, Permascand, Phonero and 4Service.



Categories: News

Chris Rynning Joins Investinor as Industrial Advisor


Investor, author, entrepreneur, and China expert Chris Rynning joins Investinor as industrial advisor.

Investinor keeps adding to its network of industrial advisors. These are experienced industry experts who support Investinor in identifying and evaluating investment opportunities, as well as serve on the portfolio companies´ Board of directors.

In some cases our advisors also co-invest with Investinor in portfolio companies. At management’s request they can also assist portfolio companies in their development.

Chris Rynning, the latest member of Investinor’s advisor team, is CEO of Staur Asset Management.

Chris is a resident of China, having invested throughout Asia from his base in Beijing and Tokyo. He is a board member and has been Chairman of Norway Business Association China, in addition to lecturing in macro economics and private equity at Trondheim School of Business (HIST).

Chris was the CEO of LSE listed Origo Partners for 8 years, after managing a PWC invested technology fund in Beijing. He was previously Regional Director of Elkem ASA and has broad transaction experience between Asia/China and Norway.

Chris published the book “Little Streams, Big River” in 2014 about China’s economic and environmental challenges. He also has broad experience as founder and investor of early stage growth companies in Norway and Europe.

Chris Rynning graduated as Master of Science in Business from ESSEC, Paris, and holds an MBA in Finance from University of Chicago, USA.

Chris Rynning

Categories: Personalia

HAL sells its interest in INVESTING

Hal Holding

HAL sells its interest in INVESTING

HAL entered into an agreement to sell all shares in InVesting B.V. to Arrow Global Group PLC (London Stock Exchange: ARW). InVesting is active in the purchase of bad debt portfolios for its own account and in credit management. Revenues for 2015, including portfolio income, amounted to € 69 million. HAL currently has a 80.6% stake in InVesting B.V. and will increase its stake to 100% in order to sell all shares in InVesting B.V. to Arrow Global.

InVesting’s interest in Infomedics Groep B.V. is not part of the transaction. Infomedics is a company with a leading position with respect to factoring in the health care sector in the Netherlands. Prior to completion of the transaction, this interest will be carved out, after which HAL will hold an indirect stake of 38% in Infomedics.
The completion of the transaction is subject to the approval of the regulatory authorities as well as the finalization of the procedures under the Works Councils Act. The transaction is expected to close during the second quarter of 2016, and will result in an expected net capital gain for HAL of approximately € 35 million.

April 1, 2016

Categories: News