Norvestor secures 75% of Smart Retur

According to business daily Finansavisen, the GP paid around NOK 200m (€19m) for its stake, while another Norwegian publication, Nettavisen, reported the price as being between NOK 300-350m (€29-33m).

The company was hitherto equally owned by Martin Andresen, who is selling his 50% stake to Norvestor, and CEO Soren Eriksen, who is selling half of his 50% stake, according to Finansavisen. They acquired Smart Retur, previously known as Waba, for a reported price of around NOK 100m (€11.2m) in 2017.

Finansavisen reported at that time that the owners were aiming to double the company's revenues from NOK 220m to NOK 500m.

Norvestor partner Fredrik Korterud said in a statement that the company had limited exposure to economic cycles, and that plans for further growth include increasing its service portfolio, expanding geographic reach, and further developing its digital capabilities.

Company
Founded in 2001 and headquartered in Oslo, Smart Retur is a pallet distributor that provides logistics and packaging services for returned goods to around 500 customers in Norway, Sweden and Denmark. It also provides third-party logistics services for the last-mile delivery market. The company has revenues of around NOK 490m (€47m).

People
Norvestor – Fredrik Korterud (partner).
Smart Retur – Soren Eriksen (CEO); Martin Andresen (member of the board of directors).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Nordics
• Norway
• Norvestor
• Mid-market buyout