News - 01.01.1970

Herkules IV acquires Eterni Gruppen AS

Herkules Private Equity Fund IV has acquired a majority share of Eterni Gruppen AS. Eterni is one of Norway’s leading temporary staffing service companies.

Herkules Fund IV has entered into an agreement to acquire the majority of the shares of Eterni Gruppen AS. The management will re-invest and retain a minority stake in the company. The closing of the transaction took place on 20 December 2017.

Founded in 2011 by Rune Myrseth, Eterni is one of the leading temporary staffing service companies in Norway. Over the past 5 years, Eterni has taken significant market shares and in 2016, the company was ranked the 6th largest staffing service company in Norway. The company is headquartered in Bergen, Norway, with additional sales offices in Oslo and Trondheim, and sourcing offices in Poland, Lithuania and Slovakia. Eterni has 37 employees and approximately 800 temporary workers on contract for clients. Eterni mainly serves two key industry verticals; the construction industry and the fish and food processing industry. Eterni’s management team has long experience from the industry and has established a highly commercial corporate culture. Eterni had revenues of NOK 355 million and an EBITA of NOK 22 million in 2016.

“Eterni is one of the leading providers of temporary staffing services in Norway. Together with the management team and all the employees we believe there is great potential to continue growing the business.” says Gaute Gillebo, partner at Herkules Capital.

For further information about Eterni, please visit http://www.eterni.no/