October 20, 2023
Translink Corporate Finance in Norway, Synergos AS, acted as the financial and strategic advisor to ECIT in its acquisition of 50.1% shares in Evercom AS.
ECIT, a leading IT services and digital solutions provider announced a significant strategic move to strengthen its presence in the Norwegian audiovisual (AV) and TMT sectors. ECIT has entered into an agreement to acquire 50.1% of the shares in Evercom AS, a prominent Norwegian audiovisual specialist. This acquisition is accompanied by an option agreement to purchase the remaining 49.9% of Evercom’s shares, subject to regulatory approval.
Evercom, renowned for its experienced staff and an attractive portfolio of customers, is poised to fortify ECIT’s industry position and competence base within the AV sector. Notably, Evercom will become an integral part of ECIT’s TMT division.
Peter Lauring, CEO of ECIT, expressed his enthusiasm, stating, “We are pleased to welcome customers and employees of Evercom to ECIT. ”
Evercom’s recent collaboration with ECIT presents a strategic alliance that leverages ECIT’s profound understanding of the AV industry, expertise, and resources to explore new markets and expand services. The current shareholders of Evercom will continue as co-owners, ensuring management continuity and a shared vision for future growth.
This acquisition further solidifies ECIT’s position in the Norwegian public sector TMT services market. Evercom’s expertise and local presence will elevate ECIT’s status as a preferred supplier in the region. In 2022, Evercom reported revenues of NOK 112 million, primarily in the public sector AV solutions.
This strategic partnership represents a new beginning for both companies. The transaction is pending regulatory approval, and the closing announcement is expected to occur in the 4th quarter of 2023. ECIT AS is excited to embark on this journey and looks forward to the opportunities and growth that this alliance will bring to both organisations.
Contact our Team Members advising in this transaction:
Translink Corporate Finance is an independent partnership of firms dedicated to Corporate Finance and M&A advisory services through over 36 offices in the key markets in Europe, North and South America, Asia, Australia, and Africa. Translink has been successful in advising clients on thousands of transactions since its founding in 1972 and Translink offices have acted as advisers in over 100 M&A projects during the last twelve months.
As home to the world’s largest sovereign wealth fund, with more than € 1.1 trillion in market value, Norway is not only one of the most affluent countries in the world but also a global leader in the race to improve sustainable development. In addition to financial wealth, Norway, which goes by the nickname Land of the Midnight Sun, is a paradise for nature lovers with beautiful fjords, majestic mountains, and a long stunning coastline. A significant part of the Norwegian value-creation comes from the country’s proximity to the ocean and its commitment to sustainability. To aid that Synergos/ Translink Norway holds strong positions in the maritime sectors, especially within the aquaculture industry. While the oil service industry has historically been an important sector, our focus has pivoted towards renewables over the past few years. Since Norway has become a leading technology hub, we also work closely with the IT sector. Additional sectors Synergos is specialised and experienced in are construction, e-commerce/branded consumer goods/retail, and the health industry.