Livingstone’s Business Services team has advised the owner of sludge suction specialist Miljövision on its sale to Valedo’s portfolio company Norva24 AS. The owner of Milojovision sought partners with whom he could pursue growth opportunities available to the Company. Livingstone was the exclusive financial advisor to Miljövision and led a highly efficient sales process using the team’s transaction expertise in the environmental services space.
Norva24 acquired 100% of Miljövision’s shares through the transaction. The owner and CEO, Per Göransson, remains as CEO for Miljövision’s operations, which will continue to be based in Gustavsberg with the larger Stockholm region as the main market.
Miljövision, founded in 1996, is a well-known expert in sludge suction and associated maintenance services for water and sewage, mainly in the larger Stockholm region. Its client base comprises of both public and private companies as well as tenant associations and private individuals. Miljövision now becomes part of the Norva24 group and will strengthen its presence in Stockholm.
Norva24 is the leading Nordic underground infrastructure maintenance provider. The group is made up of local market leaders that combine the speed of the small business with the strength of a larger corporation. Norva24 is owned by Valedo and has a turnover of NOK 1.4 billion ($137m USD) with approximately 900 employees.
Interest in the environmental sector is growing alongside interest in creating a resource-efficient society through value-enhancing recycling efforts to minimize environmental effects on the planet. Maintenance providers in underground infrastructure play an important part in this cycle and already established players pose attractive acquisition opportunities.
“With Norva24, Miljövision is given highly interesting opportunities to evolve in a larger context. We’re glad to have contributed with negotiation expertise in this process and have guided Miljövision through all the formalities up to fruitful decisions. It will be very exciting to follow Miljövision’s future,” says Daniel Ohlsson, Partner at Livingstone.
This transaction highlights Livingstone’s expertise in the business services sector, following deals such as the sale of demolition service supplier Trellegräv to Storskogen, the sale of German pump specialist Zehnder Pumpen to Paris-based SFA Group, and the sale of provider of engineered fall protection systems Peak Fall Protection to North Branch’s portfolio company, Diversified Fall Protection.