International law firm Ashurst advised long-standing client Agilitas Private Equity on the sale of Norway-based property remediation and environmental services specialist Recover Nordic to EQT Partners. The deal gives the company an enterprise value of NOK3 billion (GBP248 million).
Recover Nordic, which was acquired by Agilitas in 2013, is the largest emergency response and damage control business in the Nordic region, primarily serving insurance companies, municipalities, industrial and commercial clients. Following the Agilitas-backed management buyout, Recover Nordic has experienced strong organic growth and completed 17 add-on acquisitions. Headquartered in Oslo, the company has over 2,100 employees across 92 locations in Sweden, Norway, Denmark and Finland.
The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2020.
The Ashurst team was led by corporate partner David Carter.
