Norvestor divests Sortera Skandinavien Holding AB

Norvestor has signed an agreement to divest Sortera Skandinavien Holding AB, a leading Nordic building waste collection and sorting provider currently active in Stockholm, Gothenburg, Uppsala and Oslo, to Summa Equity, following a structured sales process that attracted strong interest.

Norvestor invested in Sortera in May 2012 through its Norvestor VI fund. During Norvestor’s ownership, the company has more than doubled in size, and almost tripled its underlying EBITDA, through greenfield establishments in Gothenburg and Oslo, two small add-on acquisitions in Stockholm, and strong organic growth.

Additionally, the service offering has expanded to also include waste bins and hazardous waste services, and in 2015 Sortera invested in a second sorting facility in Stockholm. Sortera currently has approximately 3,500 customers, more than 90 employees, four offices and two sorting facilities. In 2015, the pro forma revenue amounted to SEK 193 million.

The transaction is expected to close at the end of April 2016, and the parties have agreed not to disclose the terms of the transaction.