Norvestor sells Nomor for $200m

The sale ends a holding period of more than five years for Norvestor, which acquired the firm with capital from its sixth fund.

The company is expected to contribute $14m adjusted EBITDA and $60m revenues by 2020 to ServiceMaster, according to a statement from the acquirer. At the time of the original deal, Nomor generated sales of €11.5m, according to Unquote Data.

Norvestor hired ABG Sundal Collier to sell the asset in April; the price was based on sales of €30m for 2018, according to Unquote sister publication Mergermarket.

The current management team will stay in place and report to Dion Persson, senior vice-president of strategy and international operations for ServiceMaster.

ServiceMaster will finance the acquisition by drawing $120m from its revolving credit facility and the remainder from its balance sheet.

Previous funding
Norvestor acquired a 70% stake in Nomor in May 2014, drawing capital from Norvestor VI, which held a final close on NOK 3bn in 2012.

Company
Nomor was founded in 1995 and is headquartered in Stockholm. It offers pest control and hygiene services, including preventative pest measures, food safety services and inspections. It employs 500 people.

People
ServiceMaster – Nik Varty (CEO).
Nomor Holding – Svein Olav (CEO).

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