ABGSC acted as financial advisor to EQT and Recover in relation to the sale of Serwent to Norvestor

On June 10, 2024, Recover Group (“Recover”), a leading Nordic Property Remediation company backed by EQT Partners (“EQT“), announced the sale of Serwent Group (“Serwent”) to Norvestor IX SCSp (“Norvestor”). ABG Sundal Collier (“ABGSC”) acted as exclusive sell-side advisor to EQT, and would like to express its gratitude to EQT and the Recover team for the vote of confidence. ABGSC was also advisor to EQT in the initial acquisition of Recover in 2019.
Serwent was originally formed within Recover through eight acquisitions that have since been integrated into one scalable standalone platform. Over the last years, Serwent has evolved from a small regional player, to a leading provider of mission-critical above- and underground infrastructure services in the Nordic market. Serwent especially has a stronghold in the fast-growing pipe services segment, complemented by predictable and recurring demand from emptying services and other special services.