Norvestor-backed Roadworks acquires Otera Infra

Roadworks acquired the shares from Norwegian power company Agder Energi, which will continue developing the company alongside the new owner.

With the acquisition, Roadworks intends to strengthen its service offering within electrical and automation services in its local market.

Roadworks currently operates through four business areas: electro and automation, road warnings, railings and concrete, and construction. It is headquartered in Grimstad, Norway, and employs a staff of 460.

Previous funding
Norvestor acquired the infrastructure maintenance division of Norway's OneCo in February 2015 from its parent, investment company Stabu Invest. The deal saw the GP acquire OneCo Veidrift, OneCo Samferdsel and OneCo Midt Norge, alongside Stabu Invest and the three companies' management.

As part of the transaction, the three carved-out companies were brought together in a single entity called Roadworks Group. Norvestor is the largest shareholder in Roadworks with a stake of approximately 80%, held through its NOK 3bn Norvestor VI fund.

Company
Founded in 2005 and headquartered in Kristiansand, Otera Infra builds and operates high-voltage and low-voltage systems; it provides power for road, rail and air traffic systems throughout Norway.

People
Norvestor – Christian Sontum (partner).
Roadworks – Jan Tore Klemmetsen (CEO).
Agder Energi – Tom Nysted (CEO).

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• Topics
• Portfolio management
• Nordics
• Infrastructure
• Norway
• Norvestor