Nord Holding sells stake in Avista Oil

Since Nord Holding's original investment in 2010, Avista Oil has merged with US-based Universal Environmental Services and made acquisitions in the Czech Republic, Belgium, the Netherlands and the UK. The firm used funds from Nord Holding Unternehmensbeteiligungsgesellschaft. Nord Holding invests from evergreen funds with no maturity restrictions.

Family office Bitburger Holding is a shareholder in companies including Sterntaler and Dürr Dental. Skion was founded in 2006 after entrepreneur Susanne Klatten divested from Altana's pharma activities. Its investments currently include SGL Carbon, Gemalto and Nordex.

Previous funding
The Mustad International Group acquired the company in 2003, when it took the name Avista.

Nord Holding acquired a minority stake in Avista Oil in 2010. The amount invested was less than €25m, according to Unquote Data. Nord Holding considered the investment a long-term commitment and part of Avista's internationalisation and product portfolio expansion strategy.

Company
The company employs 700 people in locations in Germany, the Netherlands, Denmark, Belgium, Czech Republic and the US. It offers oil collection, re-refining and lubricant production and international distribution. Headquartered in Uetze, the company was founded in 1951.

People
Nord Holding - Andreas Bösenberg (managing director).
Avista Oil - Marc Verfürth (CEO).

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