Backing an ambitious and very experienced founder
In memory of Mr Erling Tvete, the founder of Euroskilt, who sadly passed away from illness in September 2015.
Reiten backed the founder who wished to expand the Norwegian market leader into the rest of the Nordic region and Eastern Europe. The management team and employees in various daughter companies owned the group together with two financial investors, which were bought out by Reiten in the initial transaction. The group quickly consolidated the Nordic market and expanded into Eastern Europe, country by country. After two years of strong growth the two leading Norwegian players, Euroskilt and Ørstadgruppen merged to become a significant European contender. The merger with Ørstadgruppen provided Reiten with an opportunity to remain as a majority owner by acquiring shares from some of the existing shareholders.

Five times growth in three years
The company grew from NOK 500 to 2 500 million in sales in three years. Strong organic growth in combination with more than ten add-on acquisitions and finally a merger of Norway’s two leading competitors created a large platform for further growth. It became a very attractive take-over target in a very short time. Nordic Capital, the Nordic private equity firm, acquired SafeRoad in 2008.