Bird & Bird advises Serwent on strategic acquisition of Röranalys i Sverige AB and ISAB Rörinfodring AB
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International law firm Bird & Bird has advised Norvestor backed Serwent (“Serwent”) on the strategic acquisition of Röranalys i Sverige AB and ISAB Rörinfodring AB, which strengthens Serwents presence in the Swedish and Nordic market even further and forms a new market leader in private relining.
Serwent is part of the Serwent Group, a leading force in the water and wastewater industry with a strong focus on innovation and sustainability. Serwent ensures the functionality of critical infrastructure through a wide range of services.
Norvestor is a private equity firm headquartered in Oslo, Norway, with offices in the Nordic region, Germany and Luxembourg. Norvestor invests in medium-sized companies, with an aim to grow the companies substantially during Norvestor’s holding period.
The acquisition included the Swedish companies Röranalys i Sverige AB, Svensk Röranlys AB, Iret AB, Flush Rörteknik AB, Uppsala Relining AB and Rörteknik i Uppland AB, ISAB Rörinfodring AB, ISAB Rörinfodring Syd AB and ISAB Rörinfodring Väst AB. The Serwent Group conducts business in Sweden, Norway, and Denmark, and has a revenue of approximately SEK 1 billion. The acquisition is expected to increase Serwent revenue by approximately SEK 320 million, representing a significant expansion of the group's market presence.
The Bird & Bird team advising on the transaction was led by partner Henrik Nobel (Corporate/M&A), with support from senior associate Michael Butler (Corporate/M&A), associate Emelie Johannesson (Corporate/M&A), associate Victor Arvidsson (Corporate/M&A), and associate Tuva Lind (Corporate/M&A) with support from associate Barbara Barun (Employment), and associate Julia Jansson (Commercial).
Commenting on the deal, Alexis Brundin, CEO at Serwent AB, said: "Both Röranalys in Sweden and ISAB Rörinfodring are exceptionally strong companies that are market leaders in their respective regions. We are proud and delighted to welcome them to Serwent. These companies are known for their expertise, high-quality services, experienced management and, perhaps most importantly, their dedicated and knowledgeable employees and satisfied customers. We are very pleased that key members of management will continue in their roles and develop the business together with Serwent going forward."