Roadworks acquires Otera
Roadworks, a company majority owned by Norvestor VI, L.P., has entered an agreement to acquire 51% of the shares in Otera Infra and will together with Agder Energi develop the company to ensure future growth.
«Through the acquisition of Otera Infra, we will strengthen our capabilities and add to our service offering within «Electro and automation». Following the acquisition, we will increase our competitive advantage in a demanding and growing market”, says Jan Tore Klemmetsen, CEO of Roadworks.
Roadworks offers services within operations and maintenance of road infrastructure, in addition to buildings, construction sites and other industries. Roadworks operates through four business areas Electro and automation, Road O&M and road warning, Railings and concrete rehab and Construction. Roadworks is head quartered in Grimstad, Norway, and has approximately 460 employees.
“We are pleased to partner with Roadworks as it is important for us to be able to compete in a demanding market. It was important for us to find a financially solid and complementary partner with growth ambitions to maintain a strong regional foothold and secure further development of Otera Infra’s competence and brand. Roadworks is a well-known company with a strong commercial culture, and we look forward to working together”, says Tom Nysted, CEO of Agder Energi.
The transaction is subject to approval from the Norwegian competition authorities.
For more information, please see the following webpages: Agder Energi , Roadworks and Otera Infra.
Christian Sontum Partner, Norvestor Mob: 991 53 698
Jan Tore Klemmetsen CEO Roadworks Mob: 918 88 989
Tom Nysted CEO Agder Energi Mob: 913 21 100