Norvestor IV, L.P. (“Norvestor”) has signed an agreement to divest Life Europe AB (“Life” or “the Company”),a leading specialist retailer of health and wellness products in Sweden, Norway and Finland, to Fairford Group.
Norvestor invested in Life in 2005. During Norvestor’s ownership, the company has become the clear market leader as a specialist health and wellness retailer in the Nordic region and one of the largest specialist retailers within its’ space in the world. Life currently has over 380 stores including own stores and franchise stores. The Company has above 600 employees and revenues of around SEK 1.2 billion in Sweden, Norway and Finland.
“For the Norvestor team, it has been an interesting journey building Life to the clear market leader in the Nordics together with all the competent people in the Company. We are happy to see Fairford coming on board to support further development for Life and expand their strong market position”, says Lars Grinde, Managing Partner in Norvestor.
“With Norvestor as the main shareholder, Life has over the last years built not only the biggest health and wellness retail chain in the Nordic region but also the two biggest health and wellness product distributers. With this distribution power we look forward to meeting new opportunities together with Fairford”, says Erik Frydenberg, CEO in Life. Norvestor was advised by Advokatfirman Lindahl.
The transaction is expected to close in Q4 2017, subject to customary closing conditions, including approval from competition authorities. The parties have agreed not to disclose the terms of the transaction.
For further information:
Lars Grinde, Managing Partner in Norvestor Equity AS
Telephone: +47402 11 444
Erik Frydenberg, CEO in Life
Telephone: +47 922 29 955
Email: erik.fryd email@example.com
Life Europe AB is the leading specialist retail of health and wellness products in Sweden, Norway and Finland.
Read more at www.lifebutiken.se
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 66 investments with 260 follow – on M&A transactions, in addition to executing 43 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 Norvestor are currently invested in the following portfolio companies; Johnson Metall, Sentech (formerly Advantec Sensing), Apsis, Aptilo, Cegal, Marine Aluminium, Crayon, Robust, iSurvey, Future Production, Nomor, PG Flow Solutions, Roadworks, Permascand, 4Service, HydraWell, Eneas, Presserv, Nordic Camping & Resort, READ Cased Hole, IT Gården, NetNordic and Wexus.
Read more at www.norvestor.com