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Investment Focus

NorgesInvestor seeks companies with a strong market position, where the underlying cash flow is good and / or companies that have growth potential. The company should also be an active participant in the process of change within an industry branch, a market or product.

We strive to generate a strong organic growth, where the company gather capital to support this. NorgesInvestor wishes to contribute to consolidation in markets with attractive acquisition and / or merger opportunities.

We want to be the extended arm of the company's management, and thus be an additional resource and advisor for the company to use, to ensure good results.

NorgesInvestor would typically follow these main guidelines in their investments:

  • Ownership in the range from 50.1% to 80%.
  • Potential for strong growth and / or consolidation opportunities.
  • Strong leadership. It is considered positive that the key management holds ownership positions in the company.
  • We seek medium sized businesses with NOK 300 - 3,000 million in annual revue.

Investment Companies

NorgesInvestor IV

  • Established 2006/2007.
  • The company has completed five investments in medium sized Norwegian and Swedish companies.
  • Visual Conference Group was sold in 2011. World Class were sold in two parts. The ownership of World Class Romania was sold in 2014. The swedish unions and trademark rights sold was sold in 2015.
  • Current portfolio consists of:

Music Retail Holding AS, 07 Media AS and Arenakonsernen AB.

Our team

Jan G. Hartvig

Founding Partner

Hartvig holds an MBA from Arizona State University. He was one of the founders of NorgesInvestor in 1996. From 1990 until 1996 he was the CEO of NæringsInvest. Prior to NæringsInvest he was a partner in Elcon Partners / Elcon Securities and Department manager/Associate at Nevi.

Trond E. Wennberg

Founding Partner

Wennberg is a graduate of the Oslo University College, and holds an M.Sc. from Norges Handelshøyskole in 1976. He was one of the founders of NorgesInvestor in 1996. Until 1996, he was the CEO of Norgeskreditt. Before Norgeskreditt, Wennberg was the CEO of the investment company Invento, and had various executive positions in banking. Wennberg has extensive board experience from a variety of businesses.

Staale Myrstad

Partner

Myrstad holds an M.Sc. from The Norwegian School of Business Administration with a specialization in strategy and finance. He joined NorgesInvestor in 2000. Prior to NorgesInvestor, Myrstad worked as a consultant at Andersen Consulting.

Hans Risberg

Partner

Risberg is a Economist from Handelshögskolan in Gothenburg. Risberg was a co-founder of Ledstiernan and Ledstiernan Partners. Previously, he was the CEO of IHG Industry Trade Group, STC Scantrade, STC Recycling and Procator.

Leif Almstedt

Partner

Almstedt is M. Pol. Sc. from the University of Uppsala. Almstedt was a co-founder of Ledstiernan and Ledstiernan Partners. Previously, he was the CEO of Essve Products and Alerta.

Tove Hauge

Chief Accountant

Hauge is the chief accounting officer of NorgesInvestor. She is a business administration graduate from BI Norwegian Business School. Hauge has years of experience as accounting and administration manager.

Turid Håland

Secretary

Håland is a secretary / finance employee in NorgesInvestor. Håland has been a part of the group since 2006, and has previously worked as an organizational consultant in NFFS. She has over 30 years’ experience of business administration.

Portfolio investments

Since 1996 NorgesInvestors Private Equity team has invested just above 2,5 billion NOK. Today, we have executed 27 exits in 30 companies.

  • Music Retail Holding

    Music Retail Holding

    Music Retail Holding (MRH) has acquired and merged a number of musical stores, chains and wholesalers in Norway, Sweden and Denmark. MRH has become the largest player in its field in Scandinavia. NorgesInvestor has been a key part of MRH since its inception in June 2007, and currently own 53% of the group.

  • 07 Media

    07 Media

    The 07 group has acquired and consolidated a number of companies in the printing industry. NorgesInvestor became a shareholder in November 2007 and currently owns 57% of the company.

  • Arenakoncernen

    Arenakoncernen

    Aktriva / Arena Personnel is a staffing, restructuring and recruitment company based in Sweden. The bulk of Arena Personal's revenues are in  the warehouse / logistics, manufacturing and finance / office sectors. NorgesInvestor became a shareholder in December 2008 and currently owns 69% of the company.

  • Expert

    Expert

    Scandinavia's second largest electrical goods retailer. The company was listed in Norway and has operations in Norway, Sweden, Denmark and Estonia. Investor NorgesInvestor became a shareholder in December 1997 and realized the investment in July 2003.

  • Biotec

    Biotec

    Biopharmaceutical company that develops and manufactures new products for the treatment and prevention of immune-related diseases, especially cancer and chronic wounds in humans. NorgesInvestor became a shareholder in November 1997 and realized the investment in September 2005.

  • Read

    Read

    Offshore / technology company working with downhole operations, production logging, seismic measurements during drilling, coiled tubing and the production of measuring instruments. NorgesInvestor became a shareholder in November 1997 and realized the investment in December 2005.

  • Nordpeis

    Nordpeis

    The company produces lightweight concrete and marble adapted fireplace inserts. Norpeis also produces its own ovens. The company has patented a separate firewall built in elements. The company was sold to the Swedish listed company Nibe Industrier AB. NorgesInvestor became a shareholder in June 1998 and realized the investment in June 2005.

  • Mjørud

    Mjørud

    Mjørud Group is a subcontractor to the offshore industry and specializes in products for air filtration and noise reduction of large gas turbines offshore. NorgesInvestor became a shareholder in December 1996 and realized the investment in November 2004.

  • Norcool

    Norcool

    Norcool is one of Europe's largest manufacturers of cabinet coolers with glass doors with a market share in commercial refrigeration of over 20%. The company was listed in Norway, but was sold to Greek Frigoglass. NorgesInvestor became a shareholder in December 1996 and realized the investment in October 1999

  • Luxo

    Luxo

    Luxo Group is one of Scandinavia's leading independent manufacturers of lighting products. The group's activities includes design, development, production and composition, marketing and sales. The company is listed in Norway. NorgesInvestor became a shareholder in January 1997 and realized the investment in December 2005.

    Customax
    Customax's activities included development of software, marketing and sale of software and IT consulting services aimed primarily at the sales and finance functions (ERP and CRM systems). NorgesInvestor became an owner in February 1997. The company went bankrupt in 2000.

  • Grenland Group

    Grenland Group

    Greenland Group is an oil and gas engineering and production company. The company was previously listed in Norway. NorgesInvestor became a shareholder in July 1998 and exited the investment in November 2006.

  • Norsk Lotteridrift

    Norsk Lotteridrift

    Norsk Lotteridrift was the leading independent operator of gambling and entertainment machines in Norway. The company was listed in Norway and was acquired by UBS Capital. NorgesInvestor became a shareholder i October 1998 and realized the investment in September 2000.

  • Johan G. Olsen AS

    Johan G. Olsen AS

    Johan G. Olsen AS is an internationally-oriented conglomerate with 6 business areas: building materials, hardwood flooring, growth media, concrete, plywood and shipwrecking. NorgesInvestor became a shareholder in January 1999 and realized the investment in December 2004.

  • Bosvik

    Bosvik

    Bosvik is an interior furnishing company which delivers customized office furnishing solutions. Bosvik's main products include furniture, wall and ceiling panels and various furnishing detail. NorgesInvestor became shareholder in March 1999 and realized the investment in November 2006.

  • Hov+Dokka

    Hov+Dokka

    Hov+Dokka was one of Norway's largest office furniture concerns with its own brand, distribution and dealer network. Today the company is a part of European furniture Group AB. NorgesInvestor became a shareholder in August 1999 and realized the investment in September 2003.

  • Consorte Group ASA

    Consorte Group ASA

    Consorte Group ASA develops and maintains solutions for business market. The company was listed in Norway and has daughter companies in Sweden, Denmark and the UK. NorgesInvestor became a shareholder in June 1999 and realized the investment in November 2006.

  • Egroup

    Egroup

    Egroup is a company focused on IT consulting, knowledge software, e-commerce and remote operations of IT systems. The company is today part of Ergo Group, which is owned by Posten Norge. NorgesInvestor became a shareholder in October 1999 and realized the investment in May 2006.

  • Cermaq ASA

    Cermaq ASA

    Cermaq ASA er verdens største produsent av fôr til havbruksnæringen, med fabrikker i alle viktige havbruksland. Samtidig er selskapet nest største aktør innen oppdrett av laks og ørret gjennom datterselskaper i Chile, Canada, Norge og Skottland. Selskapet er børsnotert i Norge. Den norske stat er hovedeier. NorgesInvestor kom inn på eiersiden desember 1999. Investeringen ble realisert juni 2005.

  • GULVEX

    GULVEX

    Selskapet produserer, designer og selger tepper. Produktene til selskapet omfatter tuftede tepper (maskinlagede tepper etter en spesiell teknikk), maskinvevde tepper, håndvevde tepper, knyttede tepper og håndtuftede tepper. NorgesInvestor kom inn på eiersiden januar 1999. Investeringen ble realisert november 2002.

  • Personalhuset

    Personalhuset

    Personalhuset tilbyr tjenester innen utleie, omstilling og rekruttering av arbeidskraft til privat og offentlig sektor. Selskapet er i dag en del av ISS konsernet. NorgesInvestor kom inn på eiersiden mai 2001. Investeringen ble realisert september 2005.

  • Software Innovation

    Software Innovation

    Software Innovation is a Nordic software consultancy with over 500 employees. Software products are within the segments document management, decision support, customer and sales support, as well as portals. NorgesInvestor became a shareholder in November 2002 and realized the investment in December 2003.

  • Jernia

    Jernia

    Jernia is a retail hardware chain. The group includes the ProffPartner chain with 35 machine shops and hardware stores targeting the professional market. The company was sold to Canica AS. NorgesInvestor became a shareholder in June 2001 and realized the investment in August 2005.

  • Noral

    Noral

    Noral designs, develops, manufactures and distributes high-quality outdoor lighting through its own sales companies and through distributors. NorgesInvestor became a shareholder in December 2002 and realized the investment in December 2009.

  • Algeta

    Algeta

    Algeta is a company focused on the development of pharmaceuticals based on radioactive substances with several product candidates. NorgesInvestor became a shareholder in January 2003 and realized the investment in December 2009.

  • VIA Gruppen

    VIA Gruppen

    VIA Group is Scandinavia's leading distributor of business travel services. The company was listed in Norway and was acquired by FSN Capital. NorgesInvestor became a shareholder in June 2003 and realized the investment in August 2005.

  • BlueCom

    BlueCom

    BlueCom was a broadband company (ADSL) targeting the consumer market. The company is today owned by Ventelo. NorgesInvestor became a shareholder in December 2003 and realized the investment in August 2005.

  • Nordic Paper

    Nordic Paper

    Nordic Paper is a leading producer of grease-proof paper and muffin cups. NorgesInvestor became a shareholder in February 2006 and realized the investment in December 2014.

  • Visual Conference Group

    Visual Conference Group

    Visual Conference Group was established in 2002. The group is a leading retailer of video conferencing equipment and related products /services in the Nordic region. In 2007, NorgesInvestor bought a 60 % stake in the group. In 2011, the Visual Conference Group was sold to Interoute Communications Ltd.

  • World Class

    World Class

    World Class controls about 30 gyms. The company also has a smaller wholesale business. NorgesInvestor became a shareholder in August 2009 and currently owns approximately 70% of the company.