FSN Capital exits Norlandia Care to founders

Previous funding
FSN Capital acquired Norlandia in a February 2007 MBO. FSN Capital and Hospitality Invest each took a 44.75% stake, with remaining 10.5% shareholding held by management. It has since divested two businesses to focus on patient hotels and elderly care homes.

The  revenue of the remaining business has increased from NOK 283m in 2007 to NOK 524m in 2010.

Company
Norlandia Care, founded in 1997, operates patient hotels and elderly care homes. The company holds 10 units in Sweden, 9 in Norway, and is currently building one in Finland. Headquartered in Oslo, Norway, it employs 1,600 staff and recorded a NOK 524m revenue in 2010.

People
Partner Henrik Lisæth worked on the deal for FSN Capital. Hilde Britt Mellbye is CEO of Norlandia Care.

Advisers
Vendor - ABG Sundal Collier (Corporate finance); Advokatfirmaet Haavind (Legal); PwC (Financial due diligence).

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