M&A Deal Summary

Norvestor Equity AS Acquires VENI Energy Group

On July 4, 2016, private equity firm Norvestor Equity AS acquired utilities company VENI Energy Group from Palamon Capital Partners for 750M NOK

Acquisition Highlights
  • This is Norvestor Equity AS’s 1st transaction in the Utilities sector.
  • This is Norvestor Equity AS’s 0th largest (disclosed) transaction.
  • This is Norvestor Equity AS’s 41st transaction in Norway.

M&A Deal Summary

Date 2016-07-04
Target VENI Energy Group
Sector Utilities
Buyer(s) Norvestor Equity AS
Sellers(s) Palamon Capital Partners
Deal Type Secondary Buyout
Deal Value 750M NOK

Target

VENI Energy Group

Drammen, Norway
website
VENI Energy Group is a supplier of corporate energy services. VENI Energy Group provides a range of services aimed at reducing energy costs for the SME sector as well as large corporate and public authorities. VENI Energy Group was founded in 1995 and is based in Drammen, Norway.

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Buyer(S) 1

Buyer

Norvestor Equity AS

Oslo, Norway

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 2.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Norvestor Equity is an independent private equity group focused on opportunities throughout Norway and the nearby Nordic region. Norvestor generally looks to acquire control positions in businesses with strong market positions, clear potential for sales and earnings growth, and motivated management. Sectors of interest include engineering/technology, food/beverage, IT, telecommunications, maritime equipment, oil services, power/energy, retail, and services/outsourcing. The Firm's investment size is €10 to €45 million in companies with enterprise values of €20 to €125 million. Norvestor Equity is based in Oslo with an additional office in Stockholm.


DEAL STATS #
Overall 55 of 75
Sector (Utilities) 1 of 1
Type (Secondary Buyout) 2 of 7
Country (Norway) 41 of 52
Year (2016) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-29 HydraWell

Tananger, Norway

HydraWell is a manufacturer of proprietary downhole tools enabling time and cost efficient plugging solutions for P&A, slot recovery and well repair through eliminating the need for section milling. HydraWell was founded in 2008 and is based in Tananger, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-04 Presserv

Stavanger, Norway

Presserv is a specialist in preservation and corrosion protection within the oil, gas, shipping and storage tank industries. Presserv was founded in 1996 and is based in Stavanger, Norway.

Buy -

Seller(S) 1

SELLER

Palamon Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Palamon Capital Partners LP is a private equity firm that targets investments in high-growth service-oriented businesses throughout Europe. Palamon specifically looks for companies operating in business services, financial services, media and communications, leisure and entertainment, information technology, and healthcare. The Firm's target investment size is €30 to €100 million. Funds are generally used to support development needs, however, Palamon will also consider investing in early-stage businesses, recapitalizations, deleveraging transactions, turnarounds, and buyouts. Palamon Capital Partners LP was formed in 1999 and is based in London.


DEAL STATS #
Overall 23 of 29
Sector (Utilities) 1 of 1
Type (Secondary Buyout) 7 of 9
Country (Norway) 1 of 1
Year (2016) 2 of 2
Size (of disclosed) 9 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 Towry Holdings

Bracknell, United Kingdom

Towry Holdings Ltd. is a provider of a wealth management services model which combined fee-for-service advice with discretionary asset management capability. Towry Holdings was established in 1968 and is based in Bracknell, United Kingdom.

Sell £600M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 EnGrande S.L.

Barcelona, Spain

EnGrande S.L. is an online budget accommodation booking businesses through its flagship website www.budgetplaces.com and its network of affiliate 30’s sites.

Sell -