New owners for Rapp Marine Group

15 Jan 2013

Private equity fund NORD II is coming in as the new owner of Rapp Marine Group, with the aim of helping the continuing development of the Bodø-based industrial group through growth in a global market.

NORD II will supply fresh capital and engage in active ownership from the boardroom. Today's chairman, Svenn Are Jenssen, will be the Group CEO, while other leading personnel in the member companies will continue as before. Olav Fjell will take over as chairman of the Group.

"Rapp Marine Group is a rock-solid industrial enterprise with a proud history and reputable products. We want to evolve Rapp Marine Group to become an even stronger North-Norwegian company based in Bodø," said Olav Fjell.

"Rapp Marine Group operates in a global market and has the capability to hold a leading position in its markets worldwide. We have high ambitions for growth and continued development, and I am delighted that key personnel in management will continue on our journey," explains the chairman.

Nord II is a private equity fund which was established as a source of growth capital for well-established businesses. The Nord II fund managers are Nord Kapitalforvaltning AS.

"We will be active owners who bring expertise to the boardroom and engage in strategic planning," promises Kurt Jan Jensen, managing partner of Nord Kapitalforvaltning.

Currently the Rapp Marine Group is focusing on two primary commercial areas: winches and cranes for the fishing fleet and research vessels, and advanced fireproof doors for the offshore industry.

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