M&A Deal Summary

Apax Acquires Norva24

On March 10, 2025, private equity firm Apax acquired business services company Norva24 from Nordstjernan for 6.6B SEK

Acquisition Highlights
  • This is Apax’s 17th transaction in the Business Services sector.
  • This is Apax’s 31st largest (disclosed) transaction.
  • This is Apax’s 3rd transaction in Norway.

M&A Deal Summary

Date 2025-03-10
Target Norva24
Sector Business Services
Buyer(s) Apax
Sellers(s) Nordstjernan
Deal Type Going Private
Deal Value 6.6B SEK
Advisor(s) White & Case (Legal)

Target

Norva24

Stryn, Norway
Norva24 is a sludge suction and related service provider formed through the merger of a number of complementary regional companies but with a similar service offering and a shared strategic vision of consolidating, professionalizing, and developing the sludge suction industry. Norva24 was formed in 1919 and is based in Stryn, Norway.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 266 of 266
Sector: Business Services M&A 17 of 17
Type: Going Private M&A Deals 23 of 23
Country: Norway M&A 3 of 3
Year: 2025 M&A 2 of 2
Size (of disclosed) 31 of 55
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-26 CohnReznick

New York, New York, United States

CohnReznick is an advisory, assurance, and tax firm that provides clients with forward-thinking advice that helps them navigate complex business and financial issues. CohnReznick is based in New York, New York.

Buy -

Seller(S) 1

SELLER

Nordstjernan

Investor Investor Investor Investor Investor


Category Family Office
Founded 1890
PE ASSETS 23.0B SEK
Size Large
Type Sector Agnostic
DESCRIPTION

Nordstjernan is a family-backed private investment firm focused on long-term investments and acquisitions of companies throughout Sweden. The Firm looks to commit SEK 500 million to SEK 3 billion in situations where ownership is looking for a new partner to help with organic growth, acquisitions, or other strategic changes. Areas of investment interest include industrial, trade, healthcare, construction, real estate, and technology. Nordstjernan was established in 1890 and is based in Stockholm.


DEAL STATS #
Overall 13 of 14
Sector: Business Services M&A 1 of 1
Type: Going Private M&A Deals 1 of 1
Country: Norway M&A 2 of 2
Year: 2025 M&A 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-23 Diös Fastigheter

Ostersund, Sweden

Diös Fastigheter is a property company, owns, manages, and develops centrally located properties in ten growing cities in Sweden, with a key focus on urban development and local presence. Diös Fastigheter was founded in 1921 and is based in Östersund, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-21 Zimpler

Stockholm, Sweden

Zimpler develops, sells, and markets payment solutions and other solutions that simplify digital transactions. Zimpler was founded in 2012 and is based in Stockholm, Sweden.

Sell -