Calviks acquires Drift Sør and strengthens its Norwegian investment platform Norvika in energy and industry
Calviks acquires Drift Sør and strengthens its Norwegian investment platform Norvika in energy and industry
Calviks AB (publ) (“Calviks” or the “Company”), listed on Nasdaq First North Growth Market, has entered into a binding share purchase agreement to acquire 70 percent of the shares in Drift Sør AS (“Drift Sør”), a Norwegian staffing company with specialist expertise in the energy, oil, and gas sectors as well as industry. The agreement follows completed due diligence and the letter of intent announced on 21 August 2026. The purchase price is based on an enterprise value of approximately NOK 107.5 million on a cash and debt-free basis. Drift Sør is expected to generate revenue of approximately NOK 270 million in 2026, with EBIT of approximately NOK 21 million. Closing is conditional on securing financing and customary closing conditions.
Background and rationale
Drift Sør is a strategically important addition to Norvika and strengthens Calviks’s position in specialist staffing for the energy, offshore, and industrial sectors in Norway. Drift Sør complements the recently acquired Subshore well, and together they give Calviks a strong position in energy and industry, which is one of the largest and most skills-intensive segments in the Norwegian market.
Drift Sør will be included in Norvika, Calviks’s Norwegian investment platform, together with the Group’s other Norwegian operations. The acquisition will not result in any changes to Drift Sør’s day-to-day operations.
“With Drift Sør, we gain additional depth in energy and offshore, one of the segments where Norvika already has a strong position through Subshore. The company is well run and has a track record we have great respect for, and we look forward to continuing to build on that position together,” says Viktor Rönn, CEO of Calviks.
Purchase price and financing
The purchase price is based on an enterprise value of approximately NOK 107.5 million on a cash and debt-free basis. Of the initial purchase price for the acquired stake, 80 percent, corresponding to approximately NOK 59.5 million, will be paid in cash at closing. In addition, two additional purchase prices may be payable based on the company’s earnings performance after closing.
Closing is conditional on Calviks securing financing for the transaction and on customary closing conditions being satisfied. The Company is in constructive dialogue with several financing parties and assesses that financing will be in place ahead of the planned closing. The Company intends to inform the market as soon as the financing has been secured and the closing conditions have been satisfied.