EQT acquires Recover Nordic
Kromann Reumert has advised EQT VIII Fund ("EQT") on the Danish aspects of its acquisition of Recover Nordic from funds advised by London based PE firm, Agilitas Private Equity, and other shareholders.
Recover Nordic is a Nordic market leader in property remediation and environmental services, primarily serving insurance companies, municipalities, industrial and commercial clients. Recover Nordic makes a positive societal impact by helping end-customers in returning to everyday life as quickly as possible following unexpected events such as water or fire.
Following the Agilitas-backed management buyout in 2013, the group has experienced strong organic growth and completed 17 add-on acquisitions. Headquartered in Oslo, Norway and with more than 90 branches across the Nordics, Recover Nordic has over 2,100 employees and is expected to generate revenues of NOK 3.0 billion in 2019.
The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2020.
For more information see EQT's press release