Livonia Partners has acquired a majority stake in CSUB AS, a specialist in composite solutions, marking an optimistic start for its second fund focused on sustainable industries.

Information on the Target

Livonia Partners has recently entered into an agreement to acquire a majority stake in CSUB AS, a distinguished developer specializing in composite solutions for various sectors, including subsea, offshore, aquaculture, renewables, and civil engineering. This marks the inaugural investment from Livonia's second fund, which has recently completed its first closing.

CSUB, located in Arendal, Norway, operates three production facilities, with its largest being in Klaipeda, Lithuania. The company employs approximately 180 individuals and recorded annual sales of NOK 300 million in 2020. CSUB is recognized for developing structures and products utilizing glass fiber reinforced polyester (GRP), a more environmentally friendly alternative to traditional materials such as steel and concrete.

Industry Overview

The composite solutions industry has witnessed noteworthy growth in recent years, particularly within Norway, where the focus on sustainability and eco-friendly alternatives has become increasingly critical. Innovations