Clearwater advises Nordic Recover on the acquisition of Relita

Clearwater has advised Recover Nordic on its acquisition of Relita industri & Skadesanering, Relita Avfuktning and Demolit.

The largest Nordic sanitation company, Recover Nordic, makes three parallel acquisitions to strengthen its position in Sweden. The acquired companies are Relita industri & Skadesanering, Relita Avfuktning and Demolit. The acquisitions are the first step towards a nationwide organisation in Sweden.

Recover Nordic has been active in the sanitation industry since 1983 and is the largest sanitation company in the Nordics. The company has a presence in Norway, Denmark and Finland and employs more than 1,000 people. The turnover is more than €120m (SEK 1.1b). Previously the company operated under the name ISS Damage Control until changing the name in 2013.

After the acquisitions, Recover Nordic will have around 1,400 employees and a turnover of €160m (SEK 1.5b). Relita Industri & Sanering had a turnover of approximately €30,2m (SEK 280m) in 2014, Relita Avfuktning, €2,4m (SEK 22m) and Demolit, €4,3m) (SEK 40m).

Clearwater advised Recover Nordic throughout the whole acquisition process and was responsible for project management, documentation, negotiations, valuation and due diligence.