Midvestor’s Simpro acquires Noca

Midvestor partner Håkon Andre Berg told unquote" Simpro acquired Noca with capital provided mainly through its holding company, in which Midvestor has a 31.7% stake.

Midvestor will make further cash available if a further expansion of Simpro's stake in Noca becomes relevant.

The investment forms part of Simpro's growth strategy, as well as making use of continued local production close to its own facilities.

Midvestor manages a total of NOK 254m in capital through two funds, with an investment focus on small and medium-sized companies based in central Norway. The GP has made 13 investments so far, of which three have been realised.

Company
Founded in 1986, Trondheim-based Noca is involved in the production and the provision of services in electronic components and electronic component development for high-tech industries.

Simpro manufactures high-tech electrical components, and provides electromechanical engineering services. It was founded in 1990 and is based in Løkken Verk in central Norway.

People
Håkon Andre berg is a partner at Midvestor. Frank Rudi is the CEO of Noca, while Erik Dragset is the CEO of Simpro.

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