Norvestor has divested Kabal Holding AS, a leading logistics software provider for the global energy industry, to Insight Partners, positioning the company for further growth and innovation.

Information on the Target

Kabal Holding AS, along with its subsidiaries, is a prominent provider of logistics software within the global energy sector. The company has established itself as the standard-bearer for offshore energy operations since Norvestor's investment in January 2019, showcasing impressive growth and a reach that now includes over 50 operators, comprising all the supermajors. Additionally, Kabal's software solution supports 6,500 supplier companies and serves more than 50,000 users around the globe.

Underpinned by a license-based recurring revenue model, Kabal has achieved substantial financial success, with zero churn recorded over its 12 years of operation. Between 2018 and 2022, its revenues surged from NOK 58 million to NOK 171 million, translating into an annual growth rate of 31%. Beyond financial metrics, Kabal’s software is recognized for facilitating enhanced efficiency and significant environmental benefits, allowing operators to collectively reduce CO2 emissions by approximately 12.9 million tons annually.

Industry Overview in the Target’s Specific Country

The logistics software industry within the energy sector has evolved significantly, particularly in Norway, which is home to many leading players in the global energy market. With a strong commitment to sustainability and innovative technolo