Information on the target
Nord Vei og Asfalt, established in 2022, is a prominent player in the asphalt industry with a dedicated workforce of 37 employees. The company operates its own asphalt teams and a manufacturing facility located in Storsteinnes, Balsfjord municipality. In 2025, Nord Vei og Asfalt reported a revenue of 236 million NOK, achieving an operating profit of 38 million NOK. The previous year, 2024, saw a revenue of 98 million NOK with an operating profit of 11 million NOK, indicating a strong growth trajectory.
The company is now set to be acquired by Veidekke ASA, with the transaction contingent upon the approval from the Norwegian Competition Authority, which has now been granted. Veidekke will purchase 100% of the shares in a cash transaction, valuing the company at approximately 60 million NOK on a debt-free basis. The cash payment will be financed through Veidekke's liquidity reserves.
Industry overview in the target’s specific country
The asphalt industry in Norway is characterized by a robust demand for road construction and maintenance, driven by the country's extensive transportation network and ongoing infrastructure projects. With a focus on sustainability and innovation, the industry is adapting to new technologies and environmentally friendly practices, ensuring that it meets both regulatory standards and public expectations.
Norway's construction sector, which includes asphalt production, has seen significant investments in recent years, bolstered by government initiatives aimed at enhancing transportation infrastructure. This has resulted in a competitive landscape where companies are vying for contracts to supply asphalt for various projects, from highways to urban developments.
Moreover, the increasing emphasis on reducing carbon footprints has led to the development of recycled asphalt technologies, allowing companies to produce high-quality asphalt while minimizing waste. As a result, firms that can innovate and adapt to these trends are well-positioned for growth in the Norwegian market.
Overall, the asphalt industry in Norway is poised for continued expansion, supported by both public and private sector …