William Blair acted as exclusive financial advisor to Roadworks, a portfolio company of Norvestor, in connection with the sale of Roadworks’ Electrical Services segment (Otera) to Vinci Energies, a subsidiary of Vinci SA (ENXTPA:DG). The transaction was signed on November 25, 2022 and closed on January 5, 2023.
About the Companies
Otera, the Electrical Services company within the Roadworks group, is the leading services provider to the electrical infrastructure sector in Norway. Otera has two main operating entities, Otera Traftec and Otera Infra. Otera Traftec provides maintenance and installation services for the electrical road infrastructure market, such as road and tunnel lights and e-mobility solutions. Otera Infra is a leading grid contractor, providing engineering, construction, installation, and maintenance services for the electrical grid in Norway. Otera has around 600 employees.
Roadworks is a leading Norwegian services provider for critical infrastructure in Norway, operating through three business units: Electrical Services, Road Safety Services and Construction & Rehabilitation. The group has more than 800 employees across more than 25 locations, was established by Norvestor in 2015 through the platform acquisitions of Veidrift AS, Traftec AS and Controltec AS, and has developed into a group of 12 companies since being established.
Norvestor is a leading private equity firm focusing on mid-market buyouts in the Nordic region, with offices in Oslo, Stockholm, Helsinki, Copenhagen and Luxembourg. Norvestor typically invests in companies providing services where digitalization or available technology can be utilized to make sustainable efficiency gains and create value for clients and society. The firm usually invests in companies with revenue in the range of €25-250 million. Norvestor funds have made more than 82 platform investments and participated in more than 300 add-on acquisitions.
Vinci Energies provides services and expertise to companies and public authorities in the energy, transport and communication infrastructures, industrial sites, and building sectors. The company provides expertise in electrical engineering, mechanical engineering, automation, information, and communication technologies. Vinci Energies operates a network of 1,800 business units across 57 countries and has more than €15 billion in revenue. The company is a subsidiary of France-based Vinci SA (ENXTPA:DG).