Norvestor Acquires Serwent Holding AS

Norvestor SPV III / Norvestor IX Acquire PHM Group Oy and Sperre Air Power AS in Continuation Fund Transaction

July 15, 2025

Real Estate

Norvestor created a continuation vehicle (Norvestor SPV III), supported by commitments from Norvestor IX and a syndicate of institutional investors, to acquire PHM Group Oy and Sperre Air Power AS from earlier Norvestor funds (Norvestor VIII and Norvestor SPV II). The transaction provides liquidity/options to existing investors while preserving follow-on capital and strategic support for the two companies’ growth and M&A agendas.

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).

Norvestor VIII Acquires Majority Stake in Upheads AS

March 10, 2022

IT Services

Norvestor VIII SCSp has signed an agreement to acquire a majority of the shares in Upheads AS, a Stavanger‑headquartered full‑service IT provider for SMEs in Norway. Norvestor will become the largest shareholder alongside the founder, management and key employees, with the partnership intended to accelerate growth, expand services (including IT security and cloud offerings) and scale the business; the transaction is expected to close in April 2022.

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 Globeteam A/S

June 15, 2021

IT Services

Norvestor VIII has agreed to acquire a majority (approximately 55%) of the shares in Globeteam A/S, a Danish IT services and consultancy firm. Norvestor will partner with co-investor Kirk Kapital while Globeteam's management reinvests and retains a stake; the deal is pending Danish competition approval and aims to support expansion in Denmark and across the Nordics.

Norvestor Acquires Majority Stake in Xllnc Nordic AB

February 5, 2019

IT Services

Norvestor VII L.P., managed by Norvestor Equity AS, has acquired a ~55% majority stake in Xllnc Nordic AB, a Växjö-headquartered provider of IT lifecycle management and device-as-a-service solutions. Management and employees retain the remaining shares; Xllnc has ~200 employees and reported c. SEK 1,300 million in revenue in 2018 as Norvestor supports the company's Nordic growth and service development.