Norva24 Group AB (publ) (“Norva24” or the ”Company”), the leading Northern European1 player in the mission critical underground infrastructure maintenance (“UIM”) industry, announces its intention to launch an initial public offering of its shares (the “Offering”) and to list its shares on Nasdaq Stockholm (the “IPO”). Norva24 has a strong acquisition track record, having completed 32 acquisitions since its formation in 2015, and has established market leading positions in Norway, Germany, Sweden, and Denmark. The Company’s long-term vision is to build a European market leader and lighthouse within the UIM industry and serve as an inspiration to the UIM industry development in Europe. The Offering is expected to consist of both new shares issued by Norva24 and existing shares in the Company offered by the Principal Shareholder (as defined below) and other existing shareholders.
Valedo Partners Fund II AB (the “Principal Shareholder”), together with the Board of Directors and the management team of Norva24, considers the Offering and the IPO to be a logical and important next step in Norva24’s development, which will enable the Company to expand its shareholder base and to access the Swedish and international capital markets. The Principal Shareholder and the Board of the Directors also believe that the Offering and the IPO will support the Company’s continued growth journey, as well as increase both the awareness among potential acquisition target companies and business partners and the engagement from current and potential employees. The Offering will further strengthen Norva24’s balance sheet and financial flexibility, which will support the Company’s continued M&A consolidation of the UIM industry. In addition, the Offering allows the selling shareholders to sell a portion of their current shareholding and thereby create a liquid market for the shares.
Swedbank Robur Fonder, DNB Funds Management, Livförsäkringsbolaget Skandia, ömsesidigt and Skandia Fonder, and Carnegie Fonder (together the “Cornerstone Investors”) have, subject to certain conditions, committed to acquire shares in the Offering for up to SEK 1,245 million based on a valuation of approximately SEK 6.9 billion (representing the total market value of all shares in the Company after the IPO).
 Defined as Norway, Germany, Sweden and Denmark.