Hepro sold to AddLife

Hepro Group develops, designs, and markets welfare technology and aid equipment which aims to ensure that elderly people will be able to live safely in their own homes longer. The majority shareholder of Hepro Group was the Norwegian private equity fund Nord II, based in Tromsø, Norway. This transaction was the first exit from the fund.

The Hepro Group is the leading Norwegian company in development, design, and marketing of assistive technology for home care and welfare. Its products include special chairs, lifts, and devices to facilitate healthcare and social services in the home, a market undergoing strong growth. Hepro’s products and solutions are currently sold primarily to public sector and private healthcare players, with some sales directly to the end consumer. The companies have 40 employees and sales of NOK 155 million, mainly in the Norwegian market.

AddLife is an independent player in the life science sector, offering high-quality products, services and advice to the private and public sectors, above all in the Nordic region. AddLife has about 550 employees in some 30 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 1.9 billion. The company is listed on Nasdaq Stockholm.

Nord Kapitalforvaltning AS was established in 2011 to provide investment advisory services for private equity funds. The company is the first and only private equity company focusing on buyout and capital growth strategy in Northern Norway. Nord Kapitalforvaltning AS currently manages one fund: Nord II, which has total committed capital of NOK 431 million and is currently being invested. A fund managed by French Rothschild & Co. and the government-owned investor Argentum Fondsinvesteringer are the cornerstone investors in the fund Nord II.

The acquisition of the Hepro companies represents a strategic entry for AddLife in the field of home care in Norway, while laying the foundation for continued expansion in an attractive growth area. The acquisitions are also an excellent addition to SvanCare AB, a company acquired in October 2016. The Hepro Group markets parts of Svan Care AB’s line of products on the Norwegian market, while Svan Care AB markets parts of the Hepro Group’s line of products on the Swedish market. Addlife can continue the positive development, especially in the digital welfare technology segment.
“This is also a confirmation that active ownership can help develop Northern Norwegian companies to gain attraction in international markets. It will be valuable for the individual company and over time help attract private risk capital to the region,” says managing partner in Nord Kapitalforvaltning, Bjørn Hesthamar.
“With a growing and aging population throughout the Nordic region, there is a strong need for assistive equipment for home care, and it is only expected to grow stronger. The acquisition involves functional products and digital welfare technology that will provide greater independence, activity and security for people with disabilities”, says Kristina Willgård, CEO, AddLife.