After a disappointing start of the ownership, several changes were made in the beginning of 2016, including implementation of a completely new strategy. Since then, the company has completed a full turnaround. Non-core business areas, all loss-making when the turnaround was decided, were divested after successful implementation of several profitability improvement initiatives. In parallel, several operational and strategic efforts were implemented in the core OHS business, resulting in a positive development with strong organic revenue growth and more than tripled EBITDA.
Gaute Gillebo commented: “We are very pleased with the company’s development following the comprehensive strategy change in 2016. We are impressed by how management and the employees have responded following the changes and by the strong results they have generated. Stamina is now stronger than ever and ready to realize its full potential.”
The Herkules transaction team was led by Gaute Gillebo and supported by Fredrik Toft Bysveen.
Herkules Private Equity Fund III was advised by DNB Markets, Schjødt, and PwC.
Gaute Gillebo, Co-Managing Partner at Herkules Capital, +47 45 83 00 00