Norvestor

Norvestor IV, L.P. (Norvestor) has concluded an agreement to acquire a 70% interest in BecoTek. BecoTek is a leading integrated manufacturer and supplier of brass cages to the ball and roller bearing industry worldwide, controlling the value chain from melting to finished products.

SCAN has successfully closed a NOK 202.5 million subordinated convertible bond issue.

 

Norvestor IV, L.P. (Norvestor) has concluded an agreement to purchase ELIXIA Nordic ASA from Elixia GmbH. The company operates the fitness and wellness chain ELIXIA in Norway and Finland, with a total of 24 clubs.

Life Europe AB has appointed Hallgeir Åndal as its CEO and has in total acquired 89% of the Norwegian company Life Scandinavia AS. Life Europe views this acquisition as an important step in its effort to achieve a Nordic structuring of the health business. Life Europe now has nearly 400 health and lifestyle stores.

SCAN Geophysical ASA ("SCAN") successfully completed a private placement of approximately NOK 315 million on June 30, 2006, by issuance of 24,230,000 shares at a price of NOK 13 per share. SCAN will now be listed on the OTC list, and the pricing implies a market capitalization of the company of NOK 1,065 million after completion of the offering.

Panorama AS has acquired the silverware supplier Boor AS, which sells the best known Norwegian silverware designs such as Telesølv, Odel and Juvel. The silverware is produced by Boor's affiliated company, Bordsølv Design AS, which will be purchased by AS Th. Marthinsen Sølvvarefabrikk, which produces Panorama's existing silverware designs such as Opphøiet, Rose, Drage, Arvesølv og Märtha.

Life Health Nordic AB (Life AB) has appointed Hallgeir Åndal as its new CEO and has signed a contract to buy just over 40% of Life Scandinavia. Life AB regards these as important steps in its efforts to achieve a restructuring of the health food industry in the Nordic region.

Panorama is buying the Gullegget and Juvelen jewellery chains.Panorama is Norway's biggest supplier of jewellery products, and also owns Gullfunn, one of Norway's leading jewellery chains. Funds managed by Norvestor Equity AS acquired 75 % of the Panorama group in 2005.

Norsk Vekst Equity Partners AS has changed its name to:Norvestor Equity AS ("Norvestor")

Panorama strengthens its base of stores by acquiring Gullåren and Ivar T. HolthPanorama AS is a supplier of jewellery products, providing a complete range of jewellery, silverware and gift items. The majority of Norway's jewellery stores purchase goods from Panorama. Panorama also owns Gull-Funn and Juvelen, two chains of jewellery stores with a total of 53 retail outlets.

ELIXIA Holding AS (ELIXIA) has acquired SPORTS CLUB AS (SPORTS CLUB) creating a fitness club chain with over 110,000 members in the Nordic region. Following the merger, the fitness chain will have a total of 24 clubs in Oslo, Skien, Porsgrunn, Drammen, Larvik, Hønefoss, Lillehammer, Stavanger, Sandnes, Bryne, Bergen and Trondheim. ELIXIA also has an additional 7 fitness clubs in Finland's largest cities.