Ferd acquires IT firm Norkart

The company was previously majority-owned by the Algerøy family, which launched a process in autumn last year to sell the company.

Mergermarket reported in December 2020 that Norkart was being marketed based on EBITDA of around NOK 83m (€7.8m) and that Carnegie was running the process. The GP said in a statement that Norkart generated a strong interest from both Norwegian and international buyers.

The divestor said that several competitors had consolidated their businesses recently and that the goal of this deal was to enable Norkart to lead the way in consolidation, and further strengthen it's market position.

The GP said Norkart had recorded sales of NOK 338m in 2020 and achieved organic revenue growth of almost 12% on average over the past five years.

Company
Founded in 1961 and based in Sandvika, Norkart provides and develops geographical information systems (GIS) software to 330 Norwegian municipalities. The company has 190 employees, and offices in Sandvika, Lillehammer, Bergen, Trondheim and Kristiansand.

People
Norkart – Bent Brugård (CEO).
Ferd – Morten Borge (CEO).

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