Clearwater advises Nordic Powergroup on its sale to Norva24 group

Transaction

Nordic Powergroup on its sale to Norva24 group

Sell-side

Undisclosed

Role

Adviser to NPG on its sale to Norva24

Sector

Business Services

Region

Denmark

We have advised Nordic Powergroup (NPG), a Danish leader in underground infrastructure maintenance (UIM), on its sale to Norva24 group, a European market leader within UIM services.

Established in 2014, NPG is a key player in UIM and industrial services, possessing unique capabilities in surface treatment, boiler cleaning, high-pressure flushing, blast cleaning, as well as sludge and bulk suction.

NPG’s customers are diverse and include public utilities, district heating plants, biomass plants, food production facilities, maritime, and oil service companies. NPG has annual revenues of approximately €18.7m (DKK 140m) with an EBIT margin of over 14%. Headquartered near Copenhagen, NPG operates throughout Denmark from locations in both the eastern and western parts of the country.

Norva24 group is a European market leader within UIM services operating across Sweden, Norway, Germany, and Denmark. This transaction allows Norva24 to expand its high-pressure flushing services in Denmark with NPG’s strong position within the field, while NPG will get access to Norva24’s European markets.

The new partnership with Norva 24 provides Nordic Powergroup with unique possibilities, and in the management team, we look to a bright common future. Even when you have identified a solution that seems obvious, there are a lot of conditions you must relate to along the way. A business transaction is both technical and complex. Clearwater has been good at taking us through a range of unknown phases and has optimised both our conditions and secured us substantial added value. That has enabled us to focus on driving our business and building a good relationship with our future colleagues.
Magnus Ditlevsen, Managing Director and Co-owner, NPG

Nordic Powergroup possesses unique and specialised competencies within industrial services for public and private clients. The business is a good example of how you can create value by being the leader in your niche. It has been a rewarding process to help Nordic Powergroup and its owners become part of the Norva24 group, and it will be exciting to follow how both two parties and their clients can benefit from a united group going forward. Not least, our cooperation has been even more enjoyable thanks to the pleasant people behind the company.
Stig Windeløv, Associate Partner, Clearwater