Norvestor acquires The North Alliance from CapMan

The North Alliance, an Oslo, Norway-headquartered holding of advertising agencies, announced getting into agreement with Nordic private equity firm Norvestor to become a major shareholder in the company, by acquiring an equity package from CapMan.

Following the acquisition from CapMan and management, Norvestor will become the majority shareholder in The North Alliance with approximately 60% of the shares; the management and employees will hold the remaining shares.

Funds managed by CapMan acquired NoA in 2014.

The North Alliance - NoA, founded in 2013 and led by CEO Thomas Høgebøl, has grown into one of the most successful agency networks in Scandinavia, managing agencies in Sweden, Denmark and Norway with offices in Stockholm, Copenhagen, Oslo, Krakow, Chicago and Los Angeles.

Their Nordic design, communication and technology network has grown through a number of acquisitions and consolidations of award-winning agencies and works with global and Scandinavian clients such as IKEA, Google, Netflix, SAS, NorgesGruppen, SatsElixia, Danske Bank, FIFA and Storebrand.

In 2017 the net sales of NoA was approximately EUR 80M ($93M) in agency fee and it employed approximately 730 persons.