Altor enters into partnership with Gnist
On May 1st, Altor Fund IV (“Altor”) signed an agreement to enter into a partnership and acquire a majority of the Norwegian preschool chain Gnist Barnehager AS (“Gnist”) from founders and owners Kjersti and Bjørn Grønmyr. Kjersti and Bjørn will continue to stay active and own a minority stake in the company.
Gnist is a preschool chain with a unique concept focusing on a systematic approach to operations, supported by good practices. This ensures high and consistent quality in all Gnist preschools, with focus on the child’s individual needs and close cooperation with highly satisfied parents. The approach ensures that each child is given individual attention, follow-up and feels included in order to enable them to learn and grow at their own pace. Gnist Barnehager currently owns 17 preschools in Møre & Romsdal, Trøndelag and Hordaland.
”We are proud to enter into this partnership with Kjersti and Bjørn,“ says Maria Tallaksen, Partner at Altor. “We are impressed with Gnist, their employees and their approach and we are excited that Kjersti and Bjørn will stay on to develop Gnist Barnehager further,” Maria Tallaksen continues.
”In Altor we have found a partner that will uphold our core values,” says founder and manager Kjersti Grønmyr. “We will continue to be engaged, competent, efficient and innovative and through this ensure that each child has a caring, safe and developing time at our preschools,” Kjersti Grønmyr continues.
The transaction is subject to customary regulatory requirements and approvals.
For more information, please contact:
Børre Andreassen, Head of Communication at Gnist, Tel: +47 92049120
Maria Tallaksen, Partner at Altor, Tel: +47 90 16 88 73
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.8 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Lindorff, Helly Hansen, Carnegie, Spectrum, EWOS, Dustin, Rossignol, S Banken og SATS ELIXIA. For more information visit www.altor.com.
About Gnist Barnehager
Gnist Barnehager is a chain of privately owned preschools located in Hordaland, Møre and Romsdal and Trøndelag. The chain opened their preschool in 2004 under the name Grønmyr Barnehage, the name was changed to Gnist Barnehager in 2014. The chain currently comprises 17 preschools, with 500 employees and approximately 2000 children enrolled, with plans to develop the concept in the rest of Norway.