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April 2019

Agilitas-backed Recover Nordic further expands in Norway

Agilitas, the pan-European mid-market private equity firm, is pleased to announce the completion of the add-on acquisition of Aktiv Tankrens AS by its portfolio company, Recover Nordic, the Nordic market leader for damage control, remediation and environmental services. This is the sixteenth add-on for Recover Nordic since Agilitas backed the buyout of the group in 2013.

Aktiv Tankrens AS is a Norwegian environmental specialist providing hazardous waste management services including the cleaning, inspection and removal of oil tanks. The acquisition further expands Recover Nordic’s environmental services platform in Norway, which was established last year through the acquisition of Brdr. Grønnerud AS.

Following Recover Nordic’s impressive organic growth and series of add-on acquisitions, the company’s revenues are now in excess of NOK 2.5 billion, and the combined group employs more than 1,800 employees across 85 locations in the four Nordic countries.

Commenting on the acquisition, Martin Calderbank, Managing Partner at Agilitas, said: “The acquisition of Aktiv Tankrens AS accelerates the growth of Recover Nordic’s environmental services platform and further consolidates its position as the leading Nordic player in its sector.”

The transaction was financed from Recover Nordic’s resources. Consideration for the transaction is not disclosed.

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