TÜV Rheinland has acquired 100% of Safetec, a leading risk management consulting firm in Norway, enhancing its presence in the Nordic market and expanding its service offerings.

Target Information

On October 1, 2024, TÜV Rheinland announced the acquisition of 100% of Safetec's shares. Safetec is the foremost risk management consulting firm in Norway, actively engaged in various sectors including oil and gas, renewables, transportation, maritime, public services, health, and aquaculture. Established in 1984 and headquartered in Trondheim, Norway, Safetec has approximately 150 employees and generates revenues around EUR 23 million. It operates six additional offices throughout Norway and has international offices located in Sweden and the UK.

Industry Overview

The risk management consulting industry in Norway is crucial, particularly due to the country’s reliance on its oil and gas sectors, alongside a growing emphasis on renewable energy. With Norway's robust commitment to maintaining high safety standards within these industries, consulting firms like Safetec play a pivotal role in ensuring compliance and risk mitigation. This industry's landscape has evolved significantly as companies adapt to new regulations and market demands.

Additionally, the transportation and maritime sectors are key pillars of the Norwegian economy, where risk management is essential to prevent acciden