Brimer further developed under new ownership
On October 23, Entec Group entered into an agreement to sell Brimer to the Swedish investment fund Accent Equity. The transaction is subject to customary conditions, including regulatory requirements, and the transaction is expected to close during the fall of 2024.
The management team of Brimer are co-investors with Accent, and look forward to further developing the company together with Accent.
Brimer specializes in sustainable and corrosion-free solutions that they deliver to several different market areas, including water and wastewater, Landbased Aquaculture, closed aquaculture in the sea, the process industry on land, the subsea energy market and more. After some strategic acquisitions and mergers in recent years, Brimer now sees significant growth opportunities, both in Norway and internationally, and with a new main owner on the team, Brimer is now ready for further growth and development of the company.
Brimer has production facilities in Norway and Latvia, while the head office as well as sales, project management, design and engineering, product development and administrative functions are located in Norway.
AccentEquity is a Swedish investment company that has operated in its current form since 1999 and during that time made over 90 platform investments in private companies in the Nordic region.
The current CEO of Entec, Håvard Haanes, will join Brimer as CEO of the Brimer business. Haanes says he looks forward to working with Accent to further develop Brimer. "Our joint ambition to develop the opportunities for composite materials both nationally and internationally is a good basis for delivering corrosion-free, sustainable solutions to customers at home and abroad.
Accent's long experience of long-term development of companies based on growth, sustainability and competence fits well with the strategy and foundations of Brimer.
"We are excited to invest in Brimer and look forward to working with the experienced management team to drive growth. Brimer has established itself as a leading provider of GRP solutions for clean water and critical infrastructure through its commitment to quality, deep expertise and a customer-focused approach. We are committed to supporting the company in its market expansion and continuing to deliver high-quality products and services to its customers," said Carl Fürstenbach, Partner at Accent Equity.
For questions:
Håvard Haanes +47 97 66 40 04 hh@brimer.no
Carl Furstenbach +46 70 322 98 99 carl.furstenbach@accentequity.se
About Brimer:
Brimer was established in 1974 and is a leading European supplier of composite material tanks, GRP, to the water and wastewater markets, the fish processing industry, Landbased Aquaculture, as well as tailor-made solutions for, for example, the subsea energy market. Brimer has operations in Norway and Latvia, and has approximately 170 employees. In 2023, Brimer and its subsidiaries had consolidated sales of NOK 261 million.
About Accent Equity:
Since 1994, Accent Equity has invested in private companies in the Nordic region where a new partner or owner can be a catalyst. Our ambition is to invest in and develop the companies to become a Nordic, European or global market leader. We want to be professional, close and with a long-term perspective and thereby create a good and sustainable return.
