Agilitas, a pan-European mid-market private equity firm, has made several strategic bolt-on acquisitions to its portfolio company Recover Nordic, a provider of damage control, emergency response and environmental services.
In Sweden, where Recover Nordic operates under the Relita brand, the business has acquired 100 per cent of three businesses: Guja Riv & Håltagning AB; Rena Avlopp i Sverige AB; and Kungsbacka All & Spolservice AB.
The acquisition of Guja, combined with that of Rena Avlopp, significantly expands the company’s presence in Örebro and Stockholm. The addition of Kungsbacka also improves Recover Nordic’s reach in Southern Sweden.
Recover Nordic has also acquired Serfix AS in Norway which improves Recover Nordic’s coverage of Western Norway.
The combined revenues from the acquisitions increase Recover Nordic’s turnover by more than NOK125 million (GBP11 million) to a group figure of NOK1.8 billion (GBP161 million). Recover Nordic employs a total of 1,300 staff across 70 locations in the Nordics, making the business the largest provider in the region. All the acquisitions were completed between January and May 2017. The financial consideration involved has not been disclosed.
Martin Calderbank, managing partner at Agilitas, says: “We are very pleased at being able to add to the reach of Recover Nordic with these important acquisitions, all of which will add to the strong performance of the business.”
Bjorn Herlofsen, chief executive at Recover Nordic, adds: “Agilitas has been strongly supportive as we extend our geographic reach to take the business to the next level. We are excited at the opportunities that are opening up for us.”
