Malorama AS sold 50% of the company to Loe Equity AS and Icon Capital.

Malorama AS, an Oslo, Norway-based distributor of paint, interior decoration and surface products, announced getting into an investment agreement for selling 50% of its shareholding position.

The deal, which has undisclosed financial specifics, was made with Icon Capital AS, a Norway-based private equity firm and Loe Gruppen AS, a Norway-based company, with connections, through its subsidiaries, in manufacturing concrete and construction products and in providing property development services.

Malorama Holding AS, led by CEO Nils Sund, is the leading Norwegian distribution company of surface products to the building material market servicing both the professional and retail segment, in addition to being a wholesale distributor with more than 1 000 points-of-sale. Malorama recorded revenues of EUR 181.5M in 2017.

Malorama AS is a merger between Malermestrenes Andelslag AS and Colorama AS and serves 600+ stores and more than 3,000 craftsmanship enterprises with more than 800 deliveries every week. In the Nordics Malorama is part of Colorama Nordic, an alliance consisting of Colorama in Sweden and Denmark as well as Värisilmä in Finland.