Norvestor divests 4Service
Norvestor VII, L.P. (“Norvestor”) has signed an agreement to divest 4Service Holding AS and its subsidiaries (together “4Service” or the “Company”) to Compass Holding Norway AS (“Compass”). 4Service is a leading provider of food and facilities management services in Norway, operating across three divisions: Food and Facilities, Cleaning and Maintenance, and Accommodation.
Since Norvestor invested in 4Service in January 2016, the Company has rapidly grown by offering innovative, flexible customer-centric services. Today, 4Service takes pride in having over 6,500 highly dedicated and motivated employees providing some of the best services in the industry. The Company is renowned for its innovation and has developed a digital platform that enables high service quality and efficient operations. With a strong commitment to sustainability, 4Service promotes healthy eating, reducing food waste, and minimizing environmental impact and thus helping clients offer the best meals and office services while optimizing resource management and reducing their carbon footprint.
During Norvestor’s ownership, 4Service has grown revenues from NOK 417 million in 2015 to NOK 4,400 million in 2023. This represents an annual growth rate of 34%, driven by high organic growth as well as 20 strategic acquisitions, which added new high-quality services across Norway.
“Working together with Tor and the management team has been a privilege and a fantastic journey, and we are very happy with their achievements during our time together. 4Service has grown rapidly and at the same time consistently delivered strong results. In this new setting, 4Service will have the opportunity to benefit from being part of one of the world’s leading providers of food services while still maintaining their customer centric, local approach. We wish them all the best in the next phase”, says Fredrik Korterud, Partner in Norvestor.
“The partnership with Norvestor has been instrumental to our growth journey. Their strategic and unwavering support has been key in facilitating our acquisitions and our confidence in pursuing organic growth. Norvestor's people-oriented approach has been highly motivating for the entrepreneurial spirit in our organization, enabling us to set ambitious targets and execute with agility, thereby challenging the soft FM market in Norway. Now, together with one of the world’s leading providers of food services, we will have the power and opportunities to continue to develop the company, meet customer needs and grow our business.”, says Tor Rønhovde, CEO of 4Service.
Norvestor was advised by Rothschild & Co, BCG, PwC and BAHR.
The transaction is subject to approval from the competition authorities.
For further information:
Fredrik Korterud, Partner Norvestor
Telephone: +47 402 11 402
Email: fredrik.korterud@norvestor.com
Tor Rønhovde, CEO 4Service
Telephone: +47 916 06 204
Email: tor.ronhovde@4Service.no
4Service is a Norwegian provider of food and facilities management services, employing 6,500 people across three divisions: Food and Facilities, Cleaning and Maintenance and Accommodation. The Company is renowned for its innovation and dedication to customer satisfaction, enabled by digital solutions improving service quality and simplifying operations. Headquartered in Oslo, 4Service’s services portfolio includes office buildings operations, commercial and employee restaurants, cleaning services, and accommodation for the construction and offshore industries. Their latest venture includes expanding into event management. Read more at www.4Service.no
Norvestor is a leading private equity company focusing on mid-market buyouts in the Nordic region. The team has worked together since 1991, making it one of the most experienced private equity teams in the Nordics, having executed 94 investments with more than 500 add-on acquisitions, in addition to executing 60 exits, including 16 IPOs. The Fund seeks to invest in growth companies in the Nordic mid-market that have the potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries or by geographic expansion. Norvestor currently advises and manages funds with a committed capital of close to EUR 5.2 billion. Read more at www.norvestor.com