Stamina Group was acquired by Norvestor.

Stamina Group, an Oslo, Norway-based holding company providing occupational health services (OHS), announced that it was acquired by private equity company Norvestor.

The transaction, which has financial details undisclosed, was made with the actual owner, Herkules Capital, and included Stamina Helse AS and Avonova Holding AB. Following the acquisition from Herkules and management, Norvestor will become the majority shareholder in Stamina Group. Management and employees will increase their shareholding in the transaction.

Stamina, led by CEO Eskild Larsen, is the result of a 2011 merger between the occupational health services (OHS) company Hjelp24, Friskhuset with its fitness centres and the OHS company Avonova in Sweden. The deal was financed through Herkules Capital, which beacame major owner in the resulted structure.

Stamina is headquartered in Oslo, Norway, and employs over 500 FTEs. Avonova is headquartered in Lidköping, Sweden, and employs over 650 FTEs. The group had consolidated revenues of NOK 1,287 million ($150M) in 2017.