EnviDan sells Norwegian cost recovery business to Visma
EnviDan has entered into an agreement with Norwegian Visma for a divestment of the company's cost recovery business, which provides financial advice calculating fees for public services following legal requirements for municipalities, waste companies and harbours.
Norwegian Momentum Selvkost AS became part of EnviDan in 2016, and subsequently changed its name to EnviDan AS. The company, which specializes in calculating and documenting municipal fees, has now been sold to Norwegian-owned Visma and will change its name to Momentum Solutions AS during the first half of 2022, as the EnviDan name is also closely linked to the EnviDan Group's continuing engineering activities in Norway.
The EnviDan Group is owned by the European private equity fund Waterland, and it is the strategy that Waterland and EnviDan have set for the future that has resulted in the cost recovery tool now being sold. “We have put together an ambitious growth strategy for EnviDan, where EnviDan will grow in depth instead of in width. This means that we want to make EnviDan a leading supplier in the water cycle, and the financial services do not fit 100%.” explains Director of Waterland Kaspar Kristiansen. "The further development of cost recovery calculations in Norway and several other countries has a huge potential, and it is our clear belief that that potential can best be realized with an owner other than EnviDan."
The Norwegian company VISMA is one of Scandinavia's leading providers of software systems for the public sector. The company supplies ERP and payroll systems as well as a number of other software solutions to the municipalities, and thus has every opportunity to further develop Momentum's cost recovery tools, which are already used by over 300 municipalities in Norway. Halvor Walla, CEO of Visma-owned Framsikt AS, says: "I am excited to welcome EnviDan Selvkost to the Visma family. The company has a very strong competence in public financial management and development of financial models for the municipal sector. Daily leader of EnviDan Selvkost Martin Brenne is also very satisfied and says: "We have been happy to be part of EnviDan, which has a good culture, and which has welcomed us with open arms. But in EnviDan we are not part of the core business, and we therefore believe that Visma is a better match for our part of the business. We have a very strong market position, and a really good product that customers are happy with. We look forward to further developing this together with Visma. ”
EnviDan has an ambitious growth strategy
"The divestment of cost recovery business does not mean that we are downsizing." says Morten Fjerbæk, CEO of EnviDan. “It is a divestment that strengthens our opportunities for growth within our core business, where we have great ambitions and look positively to the future. And if we are to be true to the strategy we have put in place, this is the right thing to do.” Morten continues: “We wish Martin and our colleagues in EnviDan Selvkost all the best. They have played an important part in the establishment of EnviDan's office in Norway, and have contributed both professionally and socially to the fact that we now have an engineering department in Norway, working on a number of exciting projects for our Norwegian customers. Our engineering business in Norway is a strategically important element in our growth ambition, and with the acquisition of Arealtek, which we made in October 2021, we are well on our way.”
Arealtek AS offers advice, planning and project management within area planning as well as the water and wastewater area, and the plan is now to continue EnviDan's engineering services within Arealtek, as part of EnviDan.
For further information contact:
Morten Fjerbæk, Managing Director of the EnviDan Group at firstname.lastname@example.org or +45 40 46 17 18
Martin Brenne, Managing Director of EnviDan Selvkost at email@example.com or +47 23 96 67 37
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+45 40 46 17 18