Atlantis Vest invests in Flexleie

24.09.2015

Rieber family's investment company, Atlantis Vest, has today acquired a majority share of the rental company Flexleie AS through the holding company Equip Group AS. Former major shareholder and founder Ove Lunde will own 49% of the Equip Group. Flexleie is a well-run rental company in growth, with offices in Bergen, Stavanger, Stord and Lillestrøm.

Flexleie has since the establishment in Bergen in 2002 had a healthy development and good organic growth. The company is a major player in the provision of lifts, personnel lifts and machinery to building, construction, industry and transport, with equipment operating over large parts of Norway. Flexleie has modern equipment and is rigged for further growth. In 2014 the company achieved a turnover of NOK 92 million, which represents an increase of 35% from 2013.

In recent years, Flexleie has worked closely with lift manufacturers in the development of special machines aimed at the transport infrastructure market. This resulted in the company, Perfect Lift Sales established in 2014, which has the selling rights to newly developed machines in Norway and the rest of Europe. Perfect Lift Sales will also be included in Equip Group.

"We see the acquisition of Flexleie as a first entry for Atlantis Vest in an exciting industry. We hope and believe that we can contribute in the development and growth of the company. As owners, we want to be seen as active, long-term industrial builders, and we look forward to a good and close cooperation with the shareholders and key employees." Says Trond Valvik, investment director Atlantis Vest and chairman of Equip Group AS.

"By bringing a solid, long-term owner on the team, we hope to continue the development of the company through both organic and inorganic growth, and thus become an even more important player in the Norwegian and Scandinavian rental market. We have had conversations with Atlantis Vest since early January and have great hopes for our future cooperation." Says Ove Lunde who is the founder of Flexleie and now CEO of Equip Group.

For further information contact:
Ove Lunde - CEO Equip Group / Flexleie - mob +47 48 00 11 03
Trond Valvik - Investment Director Atlantis Vest - mob +47 99 23 28 15

About Atlantis Vest:

Atlantis Vest is the investment company of the Rieber family and has a long industrial basis. Atlantis Vest has four business segments, where direct investments are the main business area going forward. Within direct investments Atlantis Vest targets majority investments in companies with a revenue ranging from 75 to 750 million. Other business areas include Shipping, Securities and Real Estate.

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