Livingstone’s Business Services team has advised the owners of Nordic Drilling System (NDS) on the sale of a majority share to Storskogen. Livingstone acted as exclusive financial advisor to NDS.
Livingstone led a structured process, in which the experience and the transaction expertise of the team were crucial in achieving a successful result.
“Right from the first meeting with Livingstone, we have maintained close contact and the collaboration has been excellent through all steps of the process. Having access to their network of investors, as well as being aided by their experience of structured auction processes, has been absolutely essential in achieving a successful transaction,” stated Fredrik Pierre, CEO and Founder at NDS.
Through the transaction, Storskogen acquired a majority of the shares of NDS. The previous owners, Fredrik Pierre and Anders Björklund, will remain as minor shareholders. Following the transaction, Anders Björklund will take over as CEO.
NDS was founded in 2001 and is a contractor that specializes in directional boring, while also performing traditional excavation for minor projects. The company is uniquely positioned as a market leader within directional boring and offers its services across all of Sweden, with 15 employees. Today, NDS has annual revenues of around SEK 50m, with strong profitability.
Storskogen is a privately held group that acquires and manages well-performing companies that are market leaders within their respective areas. Storskogen is divided into three business areas and consists of around 50 business units with more than 3200 employees in total – more than two thirds of which operate outside of the metropolitan areas of Sweden. The group’s total revenues amount to approximately SEK 10bn.
“NDS is an exciting company and a leader within a very interesting and promising niche. Storskogen will be a fitting owner thanks to its current ownership of Tofta Gård Borrteknik and its long-term commitment when it comes to owning and developing companies,” says Zakaria Marakbi, Associate at Livingstone.
Livingstone’s team has thereby completed another Business Services transaction, following deals such as the sale of San Sac Group to Sulo, the sale of Trellegräv AB to Storskogen, and the sale of Cliniclands to Henry Schein.
Livingstone was the exclusive financial advisor and Kanter was the legal advisor to NDS during the sales process.