Bertel O Steen Kapital buys partial stake in ITVerket

The buyers will acquire 51% of ITVerket for an undisclosed amount. Norwegian business daily Finansavisen estimated the price to be around NOK 150m (€13.8m).

The GP will control 86% of its partial stake, while investors Jo Lunder and Tom Scharning will own the remaining 14%. 

ITVerket managing director Tom Henrik N Rogstad said the GP is a long-term owner that will help the company develop further.

Partner Stian Skrefsrud, who will become the chairmain of the board for ITVerket, said the GP sees growth opportunities outside Oslo, but also in other sectors. He added: "We have our eyes open for structural opportunities, and do not ignore acquisitions."

The company expects to generate a turnover of NOK 170m (€15.6m) in 2020.

According to its website, Bertel O Steen Kapital invests growth capital in unlisted Norwegian SMEs with the potential for international expansion. It typically invests in companies with revenues of NOK 50–500m.

Company
Founded in 2000 and based in Oslo, ITVerket is a B2B provider of IT services, including project management, architecture and consultancy services. The company expects to generate €15.6m in revenues in 2020. It employs 100 staff. 

People
ITVerket – Tom Henrik N Rogstad (managing director).
Bertel O Steen Kapital – Stian Skrefsrud (partner).

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• Topics
• Nordics
• Buyouts
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• Norway
• Small-cap buyout