EQT Partners acquires Recover Nordic in a NOK 3bn deal.

Recover Nordic, an Oslo, Norway-based provider of damage control, remediation and environmental services, announced getting into an agreement for being acquired by the Swedish private equity house EQT Partners, throught its fund EQT VIII.

The deal, which has financial details undisclosed, gives the company an enterprise value of NOK 3bn (£248m).

Agilitas, existing owner, acquired Recover Nordic in 2013, as it backed the management buyout of the company from the ISS Group.

Recover Nordic, led by CEO Bjørn Herlofsen, is the largest emergency response and damage control business in the Nordic region, primarily serving insurance companies, municipalities, industrial and commercial clients.

The company provides national coverage across Sweden, Norway, Denmark and Finland. It has over 2,100 employees, more than double the number in 2013, operating from 92 local branches. The company completed more than 94,500 damage control projects in 2018.