Reiten-backed NEAS divests consulting business

The transaction was valued at NOK 96m.

The Norwegian facility management company was originally acquired in May 2000 with equity from Nordic Capital Partners IV, a fund currently managed by Reiten & Co.

NEAS was floated on the Oslo Stock Exchange in 2007. Since then, Reiten & Co has reduced its stake from 89% to 45%.

The divested business recorded a turnover of NOK 79m in 2010, and employs around 70 staff; mainly consulting engineers in fire safety, and project and construction management.

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