Uppdrag | 11 March 2025
Sullivan & Cromwell and Setterwalls advise Apax Funds on SEK 6.63 billion recommended offer for Norva24 Group AB (publ)

Funds advised by Apax Partners LLP, the global private equity house, have offered to acquire Norva24 Group AB (publ) (“Norva24”), a leading player in the Underground Infrastructure Maintenance (UIM) industry in Europe, valuing all outstanding shares in Norva24 at approximately SEK 6.63 billion (c. USD 660 million).
Sweden-based Norva24 offers UIM services, such as emptying services, pressure flushing and pipe services. The company has a strong footprint of more than 80 branches in Norway, Germany, Sweden, and Denmark, with approximately 2,000 employees.
The transaction, which is subject to regulatory and other customary conditions, is expected to close in Q2 2025.
The SW team representing Apax Partners includes Jon Ericson, Axel Helle, Johanna Linnarsson, Sebastian Sederholm, Eric Torstensson and Olivia Krantz. Rolf Larsson and Angelica Ström are advising on Swedish antitrust and FDI matters.
Sullivan & Cromwell LLP acted as international lead counsel.
Contact:
Jon Ericson, Axel Helle, Johanna Linnarsson, Sebastian Sederholm, Eric Torstensson, Olivia Krantz, Rolf Larsson, Angelica Ström
Practice areas:
Equity Capital Markets, Mergers & Acquisitions, Infrastructure