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Nord II acquires Hepro AS

Nord II acquires Hepro AS

October 2014: The private equity fund Nord II, managed by Nord Kapitalforvaltning has today acquired the majority of shares in Hepro AS, a producer of support products for disabled and elderly. The company based in Rognan, Norway already has a strong position in the Norwegian market, and the ambition is so strengthen this position further through organic growth and acquisitions of complimenting businesses. Nord II provides the required capital and to realise growth and takes an active ownership through the company's board. Today's chairman of the board and main shareholder, Trond Tidemann, will together with co-owner and CEO, Truls Aanstad remain as shareholders while continuing to have important roles in the company and its board. Kurt Jan Jensen from Nord Kapitalforvaltning AS will assume position as chairman of the board.

Hepro is a solid company that has managed to take a strong position in the Norwegian market for products for elderly and disabled. We believe strongly in this market, as well as the potential of this company, and wish to continue to develop it into an even stronger Norwegian company based in Rognan, states Kurt Jan Jensen.

An attractive company with good growth opportunities

Hepro is one of the Northern Norwegian companies that have been able to take a leading position in its markets. We have great ambitions of growth and further development, and are glad that key personnel are motivated to continue their work under the new ownership, says the new chairman of the board. Jensen looks forward to setting the company up for taking an increased share of the growth in the market for aids developed for aging persons.

Continuity in ownership and management

Both Trond Tidemann and Truls Aanstad will remain as shareholders while Nord II assumes the position of majority shareholder. We now feel that we have found the right co-owners. They are serious and competent, something they have proven during the period we have worked together to prepare the acquisition. For Hepro this is a wanted and correct development of the company, says Trond Tidemann.

Solid investors

Nord II is a private equity fund that is established for supplying established businesses growth capital. The fund is managed by Nord Kapitalforvaltning. -We take an active approach to ownership and will contribute with our competence in the strategic management of the company, says Kurt Jan Jensen, managing partner in Nord Kapitalforvaltning AS.

A growing market

Aid and support products specially developed for aging persons is a growing market. -Both the demographic development and stretched municipal finances underline the value of offering products enabling aging persons to live safely in their own homes rather than being forced into institutional care. From this point of view these products represent an important value both for the user and for municipalities that are struggling to balance their budgets, says partner in Nord Kapitalforvaltning, Bjørn Hesthamar.

Hepro is a solid and profitable company in the Northern Norwegian industrial landscape, says Hesthamar- In this transaction we are combining private risk capital, a thorough strategic competence and a well run company that has already proven its ability to take a strong national market position. Our growth ambitions will be realised both through organic expansion and well-targeted complimenting acquisitions. Together with a skilled management team and highly motivated employees we will further develop Hepro's position in both the domestic and Nordic marketplace, Kurt Jan Jensen adds as a closing remark.

Rognan/Tromsø, 2th of October 2014 

For further information please contact:

Trond Tidemann
COB/General Manager
Hepro AS
Mob: +47 992 31 709

Kurt Jan Jensen
Chairman in elect
Nord Kapitalforvalning AS
Mob: +47 900 90 007

Bjørn Hesthamar
Partner
Nord Kapitalforvaltning AS
Mob: +47 950 11 222