Norva24 Group AB ("Norva24") signed an agreement on April 9, 2025, to acquire 100 percent of the shares in Multi Marine AS ("Multi Marine") through its subsidiary Norva24 Norge AS.
Multi Marine is a quality provider of Underground Infrastructure Maintenance services (UIM) located in Averøy / Kristiansund. Multi Marine also offers a wide range of critical infrastructure services above ground and will, together with Norva24 Norge, offer a complete service offering to customers in the region. The company is a well-established player in the industrial segment and provides maintenance for customers in the maritime sector in addition to regular UIM operations. Multi Marine is located in Averøy near Kristiansund and will be a good platform for Norva24 in the region. Their primary regional market is currently not served by Norva24.
The company has 140 employees and a modern fleet of vehicles and machines. In 2024, adjusted revenues amounted to NOK 226 million with good profitability. Multi Marine, with Tommy Vebenstad and Per Magnus Røeggen, has delivered services in its region for almost 30 years. A region where Norva24 has had little presence.
"We see Norva24 as a solid and long-term owner who will further develop what we have built up over many years. This provides good opportunities for both our customers and our employees, and we look forward to becoming part of the Norva24 family," says Tommy Vebenstad, general manager of Multi Marine AS.
"We have followed the positive development of Multi Marine over time and are impressed by both the breadth of the service offering and the solid expertise of the employees.
Multi Marine consists of highly competent employees with deep insight into the industry. By bringing Multi Marine into the Norva24 family, we will be able to deliver services to maritime customers and the industrial market in the region" says Stefan Langva, CEO of Norva24 Norge AS.
The acquisition will be completed when all conditions are met. This is expected to happen during the summer.
For further information, please contact:
Stefan Langva, CEO Norway, +47 997200118
Stein Yndestad, Group CFO, +47 9168666969
Henrik Norrbom, Group CEO, +46 727081515
About Norva24
Norva24 is the leading northern European player in the UIM industry[1] and offers UIM services, such as emptying services, pressure flushing and pipe services. On December31, 2024, the company operated more than 80 branches[2] in Norway, Germany, Sweden, and Denmark, with approximately 2,000 employees. The company's history dates back to 1919 and Norva24 has since evolved from a company with Norwegian roots to being a market leader in UIM services in Norway, Germany, Sweden and Denmark. Norva24 has a history of completing acquisitions to enter new markets or to consolidate its local market position, taking advantage of the highly fragmented UIM market in Europe, which is characterized by mostly small, local companies. In its four markets, the company has conducted more than 50 acquisitions since 2015.
www.norva24.com.
[1] Measured in revenue.
[2] The term "branch" refers to places of business in various locations in which the company conducts its operations.
