Clearwater International advises Nordic Recover on the acquisition of Relita
Clearwater International has advised Recover Nordic on its acquisition of Relita industri & Skadesanering, Relita Avfuktning and Demolit.
The largest Nordic sanitation company, Recover Nordic, makes three parallel acquisitions to strengthen its position in Sweden. The acquired companies are Relita industri & Skadesanering, Relita Avfuktning and Demolit. The acquisitions are the first step towards a nationwide organisation in Sweden.
Recover Nordic has been active in the sanitation industry since 1983 and is the largest sanitation company in the Nordics. The company has a presence in Norway, Denmark and Finland and employs more than 1,000 people. The turnover is more than €120m (SEK 1.1b). Previously the company operated under the name ISS Damage Control until changing the name in 2013.
After the acquisitions, Recover Nordic will have around 1,400 employees and a turnover of €160m (SEK 1.5b). Relita Industri & Sanering had a turnover of approximately €30,2m (SEK 280m) in 2014, Relita Avfuktning, €2,4m (SEK 22m) and Demolit, €4,3m) (SEK 40m).
Clearwater International advised Recover Nordic throughout the whole acquisition process and was responsible for project management, documentation, negotiations, valuation and due diligence.
Advisor to Nordic Recover on the acquisition of RelitaView more