Acta acquires Axir
The investment advisory services companies Axir and Acta join forces and strengthen their expertise. The two entities complement each other well and together form an even stronger player in the Norwegian market. Financial services to larger clients with the need for thorough follow up by a personal advisor are the companies core expertise.
- The industry has experienced significant changes the last few years as a consequence of changes in the regulatory environment combined with the financial crisis. The owners and partners in Axir decided that a merger with a larger entity would be the best way to ensure the quality in the advisory services and in the product offering, while the management in Acta wishes to strengthen its expertise in serving larger clients and increase the advisory force in the Oslo region, says CEO Michael V. Sivertsen in Axir.
Axirs clients fit well into Actas advisory concepts, particularly the Invest and Partner concepts where larger clients with the need for more thorough follow up from their personal advisor are being served. Both Axir and Acta has dedicated a great deal of resources in order to strengthen their compliance functions over the last few years, and will make use of this effort in the time to come, also with respect to clients.
- We have previously informed about the consolidation that is taking place in the industry, and we are very pleased with the fact that Axir chooses to join forces with Acta. Axir is a company with top expertise and an excellent client base, says CEO Geir Inge Solberg in Acta.
Acta will acquire 100 per cent of the shares in Axir ASA at a purchase price of approximately NOK 24 million. The acquisition is financed by a share issue of approximately 5,9 million shares in Acta Holding ASA at a share price of NOK 4,036, by use of the proxy granted by the General Assembly to the Board of Acta Holding ASA to carry out share capital increases. Completion of the transaction is dependent on approvals from both the Financial Supervisory Authority of Norway and the Norwegian Competition Authority and other customary closing conditions.
AXIR ASA was established in 1995 under the name Investeringsrådgivning AS, and is represented with offices in Oslo, Trondheim, Bergen and Kongsberg. AXIR has approximately 2,000 clients with approximately NOK 2 billion in assets under management. The majority of these assets are invested in a wide range of funds. AXIR has of today 25 employees proving investment advisory services and administration.
Acta has been providing investment advisory services since 1990 and serves clients in Norway, Sweden and Denmark. Actas 87,000 clients have approximately NOK 77 billion invested in products offered by Acta. Acta offers more than 300 investment products within shipping, real estate, private equity, renewable energy, warrants, mutual funds and infrastructure. Acta has 24 advisory offices in Norway and Sweden. The Group has 260 employees of whom 158 are investment advisors.
Contact persons:
Michael V. Sivertsen, CEO in Axir, phone +47 93 04 04 06
Geir Inge Solberg, CEO in Acta, phone +47 90 87 80 43
- The industry has experienced significant changes the last few years as a consequence of changes in the regulatory environment combined with the financial crisis. The owners and partners in Axir decided that a merger with a larger entity would be the best way to ensure the quality in the advisory services and in the product offering, while the management in Acta wishes to strengthen its expertise in serving larger clients and increase the advisory force in the Oslo region, says CEO Michael V. Sivertsen in Axir.
Axirs clients fit well into Actas advisory concepts, particularly the Invest and Partner concepts where larger clients with the need for more thorough follow up from their personal advisor are being served. Both Axir and Acta has dedicated a great deal of resources in order to strengthen their compliance functions over the last few years, and will make use of this effort in the time to come, also with respect to clients.
- We have previously informed about the consolidation that is taking place in the industry, and we are very pleased with the fact that Axir chooses to join forces with Acta. Axir is a company with top expertise and an excellent client base, says CEO Geir Inge Solberg in Acta.
Acta will acquire 100 per cent of the shares in Axir ASA at a purchase price of approximately NOK 24 million. The acquisition is financed by a share issue of approximately 5,9 million shares in Acta Holding ASA at a share price of NOK 4,036, by use of the proxy granted by the General Assembly to the Board of Acta Holding ASA to carry out share capital increases. Completion of the transaction is dependent on approvals from both the Financial Supervisory Authority of Norway and the Norwegian Competition Authority and other customary closing conditions.
AXIR ASA was established in 1995 under the name Investeringsrådgivning AS, and is represented with offices in Oslo, Trondheim, Bergen and Kongsberg. AXIR has approximately 2,000 clients with approximately NOK 2 billion in assets under management. The majority of these assets are invested in a wide range of funds. AXIR has of today 25 employees proving investment advisory services and administration.
Acta has been providing investment advisory services since 1990 and serves clients in Norway, Sweden and Denmark. Actas 87,000 clients have approximately NOK 77 billion invested in products offered by Acta. Acta offers more than 300 investment products within shipping, real estate, private equity, renewable energy, warrants, mutual funds and infrastructure. Acta has 24 advisory offices in Norway and Sweden. The Group has 260 employees of whom 158 are investment advisors.
Contact persons:
Michael V. Sivertsen, CEO in Axir, phone +47 93 04 04 06
Geir Inge Solberg, CEO in Acta, phone +47 90 87 80 43
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)