- Accent Equity and minority shareholders have agreed to divest Norco Interior to Götessons Design Group (“GDG”), a market-leading interior group
- During Accent Equity’s ownership, Norco Interior has further strengthened its position as a leading provider of tailor-made commercial interior solutions in the Nordics as well as Central and Eastern Europe
- Norco will become a new business area within GDG, and the transaction will facilitate several joint strategic opportunities going forward
The investment fund Accent Equity 2017 (“Accent Equity”) and minority shareholders have signed an agreement to divest Norco Group AB (“Norco Interior”) to GDG, a market-leading interior group developing and manufacturing functional products and solutions for work environments, public spaces, and hospitality. Accent Equity is the majority owner of GDG, and Norco Interior will thus continue to be a part of the fund’s portfolio indirectly as a subsidiary and new business area of GDG.
Accent Equity became the majority owner of Norco Interior in June 2022 and has since then supported the group’s journey to further strengthen its position as a leading provider of commercial interior solutions in the Nordics and as well as Central and Eastern Europe. During Accent Equity’s ownership, Norco Interior has invested in their inhouse Polish production facilities as well as expanded their HoReCa offering through the acquisition of SIAS, a leading Norwegian player within hotel interior concept development and furnishing.
“Our journey together with Norco Interior has been very rewarding. The management team has impressed us with repeated top achievements including several new sales records, lifting the production performance to new heights, entering the Hotels segment, and taking key steps on the journey of establishing Norco as the market leader within sustainability. Luckily, this is just the start of a new chapter as Accent Equity will be part of the continued journey together with GDG” says Oscar Claeson, Associate Partner at Accent Equity, and Chairman of the board in Norco Interior.
“We are very excited to join forces with GDG and look forward to accessing and utilizing their capabilities and knowledge to further develop our offering and services. This acquisition strengthens our joint position as a complete supplier of customized interior design concepts.” says Ove Opseth, CEO of Norco Interior, and new Deputy CEO of GDG.
“We are very pleased to welcome Norco Interior to GDG family. Their expertise and creativity will contribute significantly to our ability to offer innovative and customized solutions for our customers. The acquisition strengthens our position as a comprehensive provider of high-quality design and interior options”, says Emil Johansson, CEO of GDG.
For additional information, please contact:
Oscar Claeson, Associate Partner at Accent Equity Partners, +46 (0) 70 108 99 99,
oscar.claeson@accentequity.se
Ove Opseth, CEO of Norco Interior, +46 (0)70 589 76 18,
ove@norcointerior.com
About Norco Interior:
Norco Interior is a leading player in tailor-made fittings for commercial spaces with a strong presence in Sweden, Norway, and Poland. The company offers turnkey solutions, including everything from concept development and layout to production and (outsourced) installation. Norco Interior is headquartered in Stockholm, with sales companies in Norway, Poland and Sweden as well as two own production facilities located in Poland. Norco Interior has approximately 330 employees and generated SEK 876 million in revenues 2023 (pro forma). norcointerior.com
About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop companies to be Nordic, European, or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns. Accent Equity Partners is the investment advisor to Accent Equity 2012.
accentequity.se
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About GDG:
GDG is a Sweden-based provider of functional products and solutions for work environments. The work environment solutions are typically acoustic improving products and include desk and floor screens, cable management, electrical and lightning solutions, various accessories as well as wall and ceiling absorbents. The company is headquartered in Ulricehamn, Sweden and has approximately 220 employees.
gotessonsdesigngroup.com