Norvestor registers two funds

Norvestor VIII held a final close in March 2021 on EUR 800m, having been registered in October 2018, according to Unquote Data. The fund has made eight investments to date, including the acquisition of industrial automation and digital transformation company Pinja Group in November 2021.

Oslo-headquartered Norvestor makes buyout investments in Nordic-headquartered companies with revenues of EUR 25m-250m, generally investing in services businesses with digitalisation potential. It typically holds investments for three to six years, often supporting buy-and-build strategies.

Norvestor VIII is backed by new and existing investors from Europe, North America and Asia, including the Employees' Retirement System of Rhode Island.

Although the nature of Norvestor SVP II is unclear from the filing, Norvestor SPV I was used to hold a stake in IT service provider Cegal. Norvestor sold its majority stake in the company to a consortium led by DWS and Argentum in November 2019, as reported, using the vehicle to make the transaction. Cegal merged with Sysco in August 2021 in a deal that saw Norvestor, Cubera, Argentum and DWS become majority shareholders in the combined company, while Credo Partners and Ferd took a minority stake.

Norvestor declined to comment.

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