Waterland to acquire Norwegian company Bano

Managing director Frode Lindvik told Norwegian publication Finansavisen that the deal will facilitate Bano's plans to expand abroad, and that the company had a turnover of NOK 331m (€33m) in 2020.

The publication estimated the deal value to be over NOK 1bn (€99m).

Waterland is currently deploying equity from its eighth fund, which held a final close on €2.5bn in December 2020. The GP typically provides equity tickets in the €10-20m range.

Company
Founded in 1999 and based in Sandane, Bano is a supplier of bathroom products to the healthcare sector. It has additional offices in Bergen, Stockholm, Helsinki, Copenhagen and Amsterdam.

The company had revenues of NOK 331 (€33m) in 2020 and employs 169 staff.

People
Bano - Frode Lindvik (managing director).
Waterland Nordic - Kaspar Kristiansen (managing director).

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• Topics
• Buyouts
• Nordics
• Industrials
• Norway
• Mid-market buyout
• Waterland Private Equity