Norvestor

Norvestor V, L.P. (Norvestor) has signed an agreement to invest in Apsis Sweden AB (Apsis), the leading Nordic supplier of software-as-a-service solutions for permission based e-mail marketing.

The owners of the online travel agent European Travel Interactive AB ("eTRAVELi") have signed an agreement to sell their shares to Segulah IV L.P. ("Segulah"). Norvestor IV, L.P. ("Norvestor"), a private equity fund advised by Norvestor Equity AS, owns 70 % of the shares in eTRAVELi.

 

ELIXIA Holding II AS, a company owned 57 % by Norvestor IV, L.P., has completed a NOK 977.5 million refinancing of its bank debts. The refinancing includes a new NOK 225 million senior facility to be used to partially repay a shareholder loan.

 

Advantec AS has aquired the technology company Sentech AS. Following this, Sentech will change its name to Advantec Sensing AS.

 

The company has 5 employees based in Oppegård, close to Oslo. The main products are advanced metering systems which are used to improve the separation process. These systems are sold to the international oil and gas market.

 

Norvestor V, L.P. (Norvestor) has signed an agreement to invest in Advantec Holding AS, (Advantec), a supplier of electro hydraulic control systems for the subsea oil and gas market.

 

RenoNorden Holding AS ("RenoNorden") has acquired the household waste collection division (the "Tender Division") of Renoflex-Gruppen A/S ("Renoflex"), a leading Danish waste management company. Renoflex' Tender Division is one of the leading collectors and transporters of household refuse and waste in Denmark, servicing 12 out of 98 municipalities mainly in the Zealand- and Capital region. The Tender Division has grown strongly over the last five years, and had a turnover of DKK 170 million in 2009.

 

Norvestor Equity AS has appointed Lars A. Grinde (48) as new Managing Partner from 1 March 2010. Lars has been with the team since 1991, and has a wealth of experience within all areas of the private equity industry.

Norvestor has hired Christian Fredrik Sontum (38) as a new Investment Director from 1 March 2010. Christian holds a BSc in Civil Engineering from Purdue University and an MBA from IESE (Barcelona). He has a background from strategic consulting, investment banking as well as many years of operational experience.

From 1 March 2010, Trond Bjørnøy will succeed Stein Wessel-Aas as Chairman, in addition to his role as Partner. Stein will continue as board member of Norvestor Equity AS.

The group expects to sell travel worth SEK 5 billion in 2010.

Internet travel agency group European Travel Interactive (eTRAVELi) continues to expand on the Nordic travel market and is open for additional consolidation in Europe. The group is strengthening its portfolio of brands through the acquisition of one of the company's largest competitors, Travelstart in Europe. With this acquisition, the group expects to sell travel worth SEK 5 billion in 2010.

Fredrik W. Korterud (38) has been appointed Partner in Norvestor Equity AS. Fredrik joined the Norvestor team in 1999 as an Analyst. He has worked primarily within the retail and service sectors.