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Corteco enters Norway by partnering with A. Hansen Gruppen AS
Corteco has partnered with the owners of A. Hansen Gruppen which marks Corteco’s initial entry into the Norwegian market. The acquisition solidifies its position as a leading player within the market for renovation and maintenance of the Outer Shell of properties. By welcoming A. Hansen Gruppen AS into the Corteco family, the group will be able to offer even broader and more customised solutions to private property owners, construction companies, public customers and housing cooperatives. The management team has reinvested approximately 30% of the proceeds from the transaction.
Established in July 2022, Corteco is delivering complete solutions within Outer Shell renovation and maintenance to its customers. Through the partnership with A. Hansen Gruppen, Corteco has now welcomed 11 companies into Corteco since inception, significantly strengthening its capabilities within windows, roof, façade and renovation of courtyards and garages. As of November 2023, Corteco had proforma sales in excess of SEK 1,250 million and currently has around 360 employees.
Established in 1970, A. Hansen Gruppen AS has a strong position in the Oslo region and is led by CEO Lars Moberg. The acquisition of A. Hansen Gruppen represents an important step for Corteco in consolidating the Nordic Outer Shell market. Corteco is currently in dialogue with several other highly successful entrepreneur-owned companies and looks forward to expanding Corteco further in the near future.
Fredrik Furgårdh, CEO of Corteco, commented: “The acquisition of A. Hansen Gruppen marks a significant milestone for Corteco and strengthens our position as a reliable partner in sustainable renovation of the Outer Shell. We look forward to growing and further developing our presence in the Norwegian market and are confident that A. Hansen Gruppen will be a strong asset to the Corteco family.”
The CEO of A. Hansen, Lars Moberg commented: “I look forward to continuing to operate A. Hansen Gruppen as part of Corteco and, together with other companies in the group, offering a broader range of services to existing and future customers.”
Celero Capital was advised by Stratema, Vadestra, Simonsen Vogt Wiig, PwC, Frank Partners and BDO.
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About A. Hansen Gruppen AS
A. Hansen Gruppen AS specialises in providing comprehensive solutions for the outer shell of properties in renovations and new constructions for private property owners, construction companies, public clients and housing cooperatives. With 50 years of experience, it is a secure, stable, and quality-oriented partner.
About Corteco
Established in 2022, Corteco is a leading provider of renovation and maintenance services in the “Outer Shell” market. By renovating the Outer Shell, significant improvements in terms of energy efficiency can be achieved which in turn reduces the climate footprint of the building and, in addition, often leads to significant cost savings for the owner. By leveraging the combined expertise within the group, Corteco can deliver complete solutions to its customers to help them achieve such benefits.
As of November 2023, Corteco had proforma sales in excess of SEK 1,250 million and currently employs around 360 employees.
