DVS Entreprenør was founded in 1998 and provides facade, window, balcony and roof renovation, as well as renovation project advice and design. Its operations are primarily conducted in the Oslo area, where it is also headquartered. The company has a broad customer portfolio, ranging from housing cooperatives to building contractors and public sector property owners. Completed DVS Entreprenør projects include the refurbishment of Oslo City Hall, Oslo University Hospital, Aker and the Norwegian Meteorological Institute. The company has about 70 employees and had revenues of NOK 163 million in the 2019 financial year, with a 10-percent operating margin.
This acquisition marks Fasadgruppen’s entry into Norway, whereby it strengthens its position as the largest Nordic facade contractor. The acquisition leaves the group with 19 companies; 17 in Sweden and one each in Denmark and Norway. All companies retain their own branding and develop strong positions in their respective local markets, whilst at the same time drawing on the group’s regional strength, collaborative ethos and extensive professional resources.
“Nordic expansion is a key component of Fasadgruppen’s growth strategy, and we have for some time been looking for a well-established and quality-oriented Norwegian company prepared to embrace this vision. DVS Entreprenør is exactly what we were looking for, and we look forward to working together. This acquisition provides us with a strong platform in Norway and excellent prospects for continued market consolidation, just like in Denmark and Sweden,” says Pål Warolin, CEO of Fasadgruppen.
“We are delighted to be the first company in Norway to join Fasadgruppen; the largest facade contractor in the Nordic region. We are excited about collaborating with the rest of the group and facilitating further expansion in Norway with a focus on quality and sustainable construction,” says Leif Erik Mortensen, CEO of DVS Entreprenør.
Fasadgruppen acquires 100% of the DVS Entreprenør shares with 22 September as closing date. The sellers will remain in their respective positions and continue the development of DVS Entreprenør as part of Fasadgruppen.
Stratema advised Fasadgruppen AB.