Norvestor acquires majority stake in Sperre Compressors

Following the acquisition, Norvestor will own a 94% stake and the management team will hold the remaining shares. Norvestor intends to continue developing the company alongside the management team.

The transaction is expected to close at the end of February 2018.

Norvestor is currently investing from its Norvestor VII fund, which held a final close on its hard-cap of €510m in February 2016, according to Unquote Data.

It invests in small and mid-cap buyout rounds for Norway- and Sweden-based companies having enterprise value between NOK 150m-1.5bn.

Company
Founded in 1938 and headquartered in Ellingsøy outside Ålesund in Norway, Sperre is a supplier of starting-air compressor systems for the offshore and commercial marine markets. It was previously owned by the third generation of Sperre family.

The company has sales and service offices in Shanghai, Singapore and Rotterdam, and employs a staff of 113.

The firm posted a consolidated revenue of NOK 352m in 2017. Around 90% of its total revenue originates from outside Norway.

People
Norvestor – Per-Ola Baalerud (partner).
Sperre – Ole Nustad (CEO); Erik Langseth (managing director).

Advisers
Equity - Schjødt (legal); DNV-GL (ESG due diligence); AmropDelphi (management due diligence); PwC (corporate due diligence).
Company - Saga Corporate Finance (financial due diligence); Adviso (commercial due diligance); EY (insurance due diligance).

 

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• Topics
• Buyouts
• Nordics
• Industrials
• Norway
• Norvestor
• PwC
• EY (Ernst & Young)