EQT’s Scandic in bolt-on

Scandic is part of EQT's fifth fund, which closed on €4.25bn in December 2006. The fund's other portfolio companies include Ventelo, Atos Medical and Dometic Holding.

The Rivelsrud family, which currently owns Rica Hotels, will continue its involvement in the hotel sector through Rica Eiendom Holding. This company owns 20 of the hotel properties in the Rica Hotels portfolio, which will continue to operate with Scandic as leaseholder.

Scandic currently operates 151 hotels in the Nordic region, including 19 in Norway. Rica Hotels' portfolio includes 65 hotels in Norway and seven in Sweden that will be added to the Scandic brand, thus increasing its presence in Norway.

Company
Founded in 1975, Rica Hotels is a chain comprising 76 hotels based in Norway and Sweden, some of which are operated as franchise hotels. The company employs 2,728 people.

People
Frank Fiskers is the president and CEO of Scandic. Svein Arild Steen-Mevold is the vice president of Scandic in Norway. Jan E. Rivelsrud is the founder of Rica.

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• Topics
• Nordics
• Portfolio management
• Consumer
• EQT
• Sweden
• Norway