Segulah and Skandia Investment acquire NVS from NCC

31 January, 2002

Segulah and Skandia Investment acquire the Nordic installation group NVS Nordiska V„rme Sana AB from NCC AB. NVS reports sales of approximately SEK 2 billion and has 2,000 employees.

NVS is a Nordic installation group focusing on heating, ventilation and sanitation. The company has some 70 sites in Sweden and Norway. In recent years, NVS has enjoyed strong growth, completing a series of acquisitions and embarking on a major expansion process that is expected to continue.

“We are delighted to welcome Segulah and Skandia Investment as our principal owners. Segulah and Skandia Investment are both active owners with long experience of developing companies. They also have access to excellent networks that will contribute to further improve of NVS’s performance,” says Gunnar Rune, President of NVS.

“Segulah’s goal is to make NVS the leading installation group focusing on indoor climate in the Nordic region. We plan to achieve this by making additional acquisitions, as well as through organic growth, thus broadening both product range and geographic coverage in order to increase sales and enhance profitability,” says Gabriel Urwitz, President of Segulah.

Segulah will be the principal owner of NVS with 51 per cent of the share capital. Other co-owners include Skandia Investment (34%) and Bj”rn Wiss‚n (15%). The ownership shift also means that NVS will have a new board of directors, of which Per-Olof Sj”berg will be chairman. He possesses considerable industrial experience and his background includes positions as President of Husqvarna and Vice President of Electrolux.

For more information, please contact:

Gabriel Urwitz, President of Segulah, tel.: +46 8 442 89 50
Gunnar Rune, President of NVS, tel.: +46 40 28 77 00
Per-Olof Sj”berg, future Chairman of the Board of NVS, tel.:
+46 36 530 21

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