White & Case advises Norva24 on public takeover by Apax Partners

Global law firm White & Case LLP has advised Norva24 Group AB (Norva 24) on its public takeover by Apax Partners LLP (Apax Partners), acting through Nordahl Bidco AB.

“From Norva24’s inception, through its successful IPO in 2021 and across multiple strategic initiatives and jurisdictions, White & Case has played a vital role supporting the company’s growth and transformation into a market leader,” said White & Case partner Shoan Panahi, who led the Firm’s deal team.

Norva24’s shareholders are being offered SEK 36.5 in cash per share and the offer values the total number of shares in the company at approximately US$700 million.

“This transaction represents the beginning of a new era for Norva24,” said White & Case partner Johan Thiman, who co-led the Firm’s deal team. “It highlights White & Case’s expertise in complex cross-border public takeovers. Our team worked closely with Norva24 to navigate the deal and deliver a successful outcome for all stakeholders.”

Norva24 is a leading northern European player in the underground infrastructure maintenance (UIM) industry offering services including emptying services, pressure flushing and pipe services. It has around 2,000 employees and operates more than 80 branches in Norway, Germany, Sweden and Denmark.

Apax Partners is a London-headquartered leading global private equity firm which invests in companies across four global sectors – Services; Tech; Healthcare; Internet/Consumer – and has raised and advised funds with aggregate commitments of more than US$65 billion.

The White & Case team which advised on the transaction was led by partners Shoan Panahi and Johan Thiman (both Stockholm) and included partners Sebastian Wallin (Stockholm) and Michael Engel (London) and associates Anders Westling, Carl Hedström, Alexander Lausev Mardell, Max von Schmalensee and Filip Karlsson (all Stockholm).

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