Norvestor Acquires Majority Stake in Xllnc Nordic AB

Norvestor Acquires Majority Stake in Wint Group AB

October 25, 2024

Accounting & Tax

Norvestor IX has signed an agreement to acquire a majority of the shares in Wint Group AB, a Gothenburg-based provider of automated cloud accounting and payroll software for micro and small businesses. Wint generates over SEK 140 million in ARR, serves ~4,500 customers, employs about 100 people, and Norvestor will become the company's largest shareholder following the transaction (expected to close Q4 2024).

Xllnc Group AB Acquires REPLACE OÜ

November 11, 2019

Environmental Services

Xllnc Group AB, majority owned by Norvestor VII, L.P., has acquired REPLACE OÜ, a European mobile and IT equipment recycling and refurbishing provider founded in Estonia. The deal makes Xllnc a leading sustainable IT services provider in the Nordics by adding recycling, refurbishing and re-marketing capabilities and bringing the combined group to more than 1 million devices under management and ~SEK 3.2 billion pro forma revenues in 2019.

Nordic Capital Acquires Majority Stake in Foxway

June 19, 2023

IT Services

Nordic Capital has signed an agreement to acquire a majority share in Foxway from Norvestor VII and other owners, with completion expected in Q3 2023 subject to customary closing conditions. Nordic Capital will partner with Foxway management and alongside Norvestor to support continued growth, international expansion and Foxway’s focus on circular IT services; Foxway is a Sweden‑headquartered provider of device refurbishment, asset recovery and lifecycle services with over 1,000 employees and SEK ~7.6bn in revenue (2022).

Xllnc Group AB Acquires Lin Group AB (Lin Education)

April 16, 2019

IT Services

Xllnc Group AB, majority owned by Norvestor, has signed an agreement to acquire Lin Group AB (operating as Lin Education). The deal is an add-on to Xllnc’s platform that expands its education-focused IT services and creates a leading Nordic provider of consultancy services for digital end-user equipment, with combined revenues of SEK 2.4 billion (2019).

Norvestor Acquires Majority Stake in BST Group from IK Partners

November 8, 2021

Industrial Services

Norvestor VIII has agreed to acquire a majority stake in BST Group Nordic AB from IK Partners' Small Cap II Fund; financial terms were not disclosed. BST, a Stockholm-based full-service active fire protection provider with ~430 employees and pro forma revenues of about SEK 900 million, will see Norvestor become the largest shareholder while management and key employees remain invested.

Norvestor Acquires Majority Stake in Pinja Group Oy

November 22, 2021

Software

Norvestor VIII SCSp has signed an agreement to acquire a majority of the shares in Pinja Group Oy, a Finnish industrial software and digitalization services provider headquartered in Jyväskylä. The transaction will make Norvestor the largest shareholder while Pinja's management and key employees retain stakes; the deal is intended to accelerate Pinja's internationalization and M&A-driven growth across the Nordics and Germany and is expected to close around year-end.