Norvestor acquires Finnish water management firm Envera

According to Finansavisen, the GP is buying 60% of Envera for a nine-figure NOK amount via a share issue and share purchase. 

Norvestor partner Per-Ola Baalerud said in the press report that the GP aims to increase Envera's turnover fivefold within four to five years. Enerva's annual recurring revenue is roughly €4.2m. 

The existing shareholders, including Taaleri Circular Economy Fund, and the company founders and employees will reinvest in Envera. 

Company
Founded in 2013 and based in Espoo, Smartvatten is a water management service company with operations across Finland, Germany, Sweden, Benelux and the US. It provides customers tools for real-time monitoring and reporting of water consumption in buildings. It has 40 employees and revenues of €4.2m. 

People
Smartvatten - Jussi Niiniaho (CEO).
Norvestor - Per-Ola Baalerud (partner).

Advisers
Company - Dottir (legal). Translink Corporate Finance (financial adviser).

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• Topics
• Buyouts
• Nordics
• Technology
• Norvestor
• Finland
• Small-cap buyout