Lower middle market-focused global private investor The Riverside Company has acquired Arbeidsmiljø og Energiteknikk (AET), a Norwegian distributor of third-party consumables and laboratory cleaning equipment, from RA Service and management.
According to a press release, the acquisition of AET will act as an add-on to Riverside’s portfolio company Dastex Reinraumzubehör, a European garment and consumables distributor, which was acquired last year alongside its first add-on, Vita Verita.
Riverside’s investment will go towards increasing commercial and marketing efforts across Norway and enhancing the group’s presence in the Nordics. AET’s current CEO Barbro Reiersøl will continue to lead the Norwegian operations.
AET is based in Kongsberg and provides disinfection services and training courses focused on the operations and maintenance of cleanrooms and other clean environments, particularly for the pharmaceutical, semiconductor and healthcare sectors.
In a statement, Damien Gaudin, a Partner at Riverside Europe who led the deal, said: “The addition of AET is another milestone in our pan-European buy-and-build strategy for Dastex. There is a strong strategic fit with Dastex as AET’s consumables distribution offering aligns perfectly with the core focus of the group, while the disinfection services form a complementary addition to the existing verification and validation services business. The acquisition of AET expands the group’s geographical footprint by establishing a direct presence in Norway, strengthening Dastex’ competitive position in the Nordics.”
Gaudin worked with Riverside’s Vice President Maxime Meulemeester and Senior Associate Sebastiaan Pauwels on the AET acquisition.
