Tue, 22 Apr 2025 | BUSINESS SALE
US-listed Swedish industrial group Vestum has acquired Nortech, a Worcestershire tech company that helps monitor and manage water and electricity networks.
Vestum is focused on specialist infrastructure technologies across Europe.It has 1,500 staff across Scandinavia and the UK.
Nortech supplies a range of products to all UK electricity distribution network operators and is the sole provider of data aggregation software to these companies. It is the only player in the market offering a hardware-agnostic software platform used for pumping stations in the water sector.
The acquisition will see Nortech integrated into Vestum’s Flow Technology division.
Simon Göthberg, CEO of Vestum commented: “We are pleased to announce the acquisition of Nortech, which creates a new platform within Vestum’s flow technology segment. Nortech is a market leader, with high market share, in monitoring and control technology in the structurally growing energy and water distribution sector in the UK and has, with over 30 years in the industry, extensive experience in providing innovative products to its customers.”
Julian Brown, managing director, Nortech, added: “We are delighted that Nortech is now part of the Vestum group. Their ‘acquire and hold strategy’, combined with a focus on growing businesses within the infrastructure sector, was what attracted us most to their offer. It’s a great fit for both companies”.
An advisory team at Evolve Corporate Finance, led by Justin Sparks, partner, and Jonathan Wright, partner, provided strategic advice to the shareholders of Nortech, identifying and engaging UK and international strategic parties and negotiating terms to maximise value.
Jonathan Wright, partner at Evolve Corporate Finance, commented: “It was a pleasure to support and advise the shareholders of Nortech on this transaction. Our experience, research capabilities, and international network enabled us to find the best global partner with a strong cultural and strategic fit that complemented the business, which was important to our client and the management team. The strategic partnership will enable the existing management team to continue to provide innovative products and solutions to its customers, and we look forward to seeing the Nortech team continue their success story.”
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