Norvestor divests Nomor
Norvestor VI, L.P. (“Norvestor”), has completed the divestment of Nomor Holding AB and its subsidiaries (together “Nomor” or the “Company”), to ServiceMaster Global Holdings, Inc. (NYSE: SERV) (“ServiceMaster”). Nomor is the fourth largest pest control company in Europe, with nationwide coverage in Sweden and Norway.
“Following several years of dialogue, we entered into a partnership with Nomor in May 2014. Since then, we are very pleased to have supported the management team in the development of its organisation and operations and its successful buy-and-build strategy. During our ownership, Nomor has made 9 strategic acquisitions in Norway and Sweden and increased revenues from SEK 104 million in 2013 to approximately SEK 500 million. Nomor is today the fourth largest pest control company in Europe with an experienced
management team ready for continued European expansion. For Norvestor, Nomor has been an outstanding investment”, says Fredrik Korterud, Partner at Norvestor Equity and chairman of Nomor Holding. “The partnership with Norvestor has been a key enabler in the development of Nomor from an entrepreneurial challenger in Sweden to a leading Nordic platform, and we are very excited to continue our European growth journey together with ServiceMaster, leveraging knowledge and expertise from a worldleading pest control services organisation”, says Svein Olav Stölen, CEO of Nomor Holding. Norvestor was advised by ABG Sundal Collier, The Potomac Company, PwC and Törngren Magnell.