Herkules Capital

Herkules Capital is a private equity firm based in Oslo, Norway, founded in 2002. The firm specializes in acquiring majority interests in established businesses primarily within the Nordic region, with a focus on Norway. Herkules Capital targets investment opportunities across various sectors, including energy, consumer goods and retail, healthcare and pharmaceuticals, services, and industrial technology. With a total of approximately NOK 15 billion raised in funds, the firm emphasizes a long-term, industrial approach to ownership, respecting the history and culture of each company it partners with. Herkules Capital has a proven track record of collaborating with existing shareholders to foster growth and enhance the potential of the businesses in which it invests.

Morten Blix

Senior Partner

Krister Hytten Eriksen

CFO

40 past transactions

Beckmann

Venture Round in 2017
Beckmann is a manufacturer of primary school backpacks and related accessories, established in 1946 by Olav Beckmann in Kristiansand. The company specializes in designing and distributing high-quality, functional, and ergonomic products aimed at children and young people. Beckmann’s offerings include backpacks, suitcases, and rucksacks, which are available through various retail outlets and its own website. The company is recognized for providing durable and trendy backpacks that deliver value for money, with its products sold across Scandinavia, Europe, and Asia.

Olivia Restauranter

Private Equity Round in 2016
Olivia Restaurants delivers delicious cuisine made with fresh products in a special environment. They provide stone oven-baked, thin, crispy pizza, classic pasta dishes, and antipasti.

Linas Matkasse

Private Equity Round in 2015
Linas Matkasse is a leading meal kit delivery service based in Sweden, operating across the Nordic region, including Norway, Denmark, and Finland. The company offers a diverse selection of meal kits designed to simplify everyday cooking by delivering inspiring meals directly to customers' homes. With an annual turnover of approximately $170 million, Linas Matkasse is recognized as a significant player in the Scandinavian food tech industry. The company also operates under various brands, including Godtlevert, Adams Matkasse, and RetNemt, further solidifying its presence in the market.

Seagull

Acquisition in 2015
Seagull AS is the provider of computer based training systems for seafarers.

Ocean Technologies Group

Venture Round in 2015
Ocean Technologies Group is focused on enhancing the capabilities of seafarers and maritime professionals through innovative educational software tailored for the maritime sector. The company's platform provides a suite of digital learning tools, assessment capabilities, and resources for maritime human resources and fleet management. By equipping maritime professionals with the necessary skills and knowledge, Ocean Technologies Group aims to help them navigate the complexities of modern shipping in a digital environment.

Admincontrol

Acquisition in 2015
Admincontrol is a technology company that specializes in developing web-based applications for secure document management and collaboration among businesses. Operating as a subsidiary of Visma AS, Admincontrol offers solutions such as Board Portals for corporate governance and Virtual Data Rooms for corporate finance, facilitating the sharing of critical business information in a secure and user-friendly manner. Their cloud-based software is designed to streamline workflows in essential business processes, including board and management tasks, due diligence, and capital injections. Admincontrol's services are accessible via any web browser and are also available through mobile applications, ensuring effective collaboration across various platforms. With a strong presence in the Nordic market and clients spanning all continents, Admincontrol is recognized as a fast-growing provider in the document management sector.

PSW Group

Private Equity Round in 2014
PSW Group is a maintenance and service provider for the Norwegian subsea and drilling industries, delivering both offshore and onshore services. The company specializes in maintenance and engineering services for critical subsea, topside, and drilling equipment. By focusing on these key areas, PSW Group aims to support its clients in the energy sector with safe, reliable, and cost-effective solutions tailored to meet industry demands.

Elektroimportøren AS

Venture Round in 2014
Elektroimportøren AS is a Norwegian company founded in 1994, based in Oslo, that specializes in the wholesale and retail distribution of electrical goods. The company provides a wide range of electrical products to meet the needs of both consumers and businesses, establishing itself as a key player in the electrical goods market.

Elektroimportøren AS

Acquisition in 2014
Elektroimportøren AS is a Norwegian company founded in 1994, based in Oslo, that specializes in the wholesale and retail distribution of electrical goods. The company provides a wide range of electrical products to meet the needs of both consumers and businesses, establishing itself as a key player in the electrical goods market.

Didriksons

Venture Round in 2014
Didriksons AB, founded in 1913 and based in Borås, Sweden, is a prominent manufacturer and retailer of functional clothing and oil garments. Initially established to produce workwear for fishermen, the company has evolved into a leading brand in Scandinavia, offering a diverse range of waterproof sportswear and accessories for women, men, youth, and children. Its product line includes jackets, tops, bottoms, coveralls, and boots, designed to keep customers dry and comfortable in various weather conditions. Didriksons caters to a wide audience, including outdoor enthusiasts such as hunters, golfers, and fishermen, and distributes its offerings through retail stores across Sweden.

Petroleum Technology Company

Private Equity Round in 2013
Petroleum Technology Company AS is a manufacturer and supplier of well completion and wellhead equipment specifically designed for the oil production industry. Established in 2002 and headquartered in Stavanger, Norway, the company also has offices in Aberdeen, Houston, Rio de Janeiro, Abu Dhabi, and Saudi Arabia. It specializes in a range of products, including gas lift equipment, chemical injection systems, wellhead safety valves, and jet pumps. The company’s offerings support various applications such as gas lifting, chemical injection, and wellhead pressure management, as well as providing essential services like design and installation for these technologies. By delivering innovative solutions, Petroleum Technology Company aims to help clients reduce lifecycle costs while enhancing the safety, reliability, and productivity of their oil wells and associated systems.

Harding Safety

Venture Round in 2013
Harding Safety AS is a manufacturer and supplier of marine life-saving systems, operating both in Norway and internationally. Established in 1928 and headquartered in Seimsfoss, Norway, the company specializes in lifeboats for the offshore and shipping industries, as well as rescue boat systems designed for various marine applications, including merchant and passenger vessels. Its product range includes ship and rig davits, sea cure hooks, raft and rescue boat hooks, and winches, alongside comprehensive services such as inspection, maintenance, refurbishments, and training. Harding Safety AS also provides spare parts to support its equipment. The company has production facilities across Europe, Asia, and the United States, and became a subsidiary of PALFINGER's marine business in 2016, following its rebranding from Umoe Schat-Harding Services Norway AS in July 2013.

Petroleum Technology Company

Acquisition in 2013
Petroleum Technology Company AS is a manufacturer and supplier of well completion and wellhead equipment specifically designed for the oil production industry. Established in 2002 and headquartered in Stavanger, Norway, the company also has offices in Aberdeen, Houston, Rio de Janeiro, Abu Dhabi, and Saudi Arabia. It specializes in a range of products, including gas lift equipment, chemical injection systems, wellhead safety valves, and jet pumps. The company’s offerings support various applications such as gas lifting, chemical injection, and wellhead pressure management, as well as providing essential services like design and installation for these technologies. By delivering innovative solutions, Petroleum Technology Company aims to help clients reduce lifecycle costs while enhancing the safety, reliability, and productivity of their oil wells and associated systems.

Harding Safety

Acquisition in 2013
Harding Safety AS is a manufacturer and supplier of marine life-saving systems, operating both in Norway and internationally. Established in 1928 and headquartered in Seimsfoss, Norway, the company specializes in lifeboats for the offshore and shipping industries, as well as rescue boat systems designed for various marine applications, including merchant and passenger vessels. Its product range includes ship and rig davits, sea cure hooks, raft and rescue boat hooks, and winches, alongside comprehensive services such as inspection, maintenance, refurbishments, and training. Harding Safety AS also provides spare parts to support its equipment. The company has production facilities across Europe, Asia, and the United States, and became a subsidiary of PALFINGER's marine business in 2016, following its rebranding from Umoe Schat-Harding Services Norway AS in July 2013.

Espresso House Baresso

Acquisition in 2012
Espresso House is a Swedish coffee chain and owned by JAB holding company.

Espresso House Baresso

Venture Round in 2012
Espresso House is a Swedish coffee chain and owned by JAB holding company.

Stamina Group

Acquisition in 2011
Stamina Group AS is a leading provider of occupational health services in Norway and the second largest in Sweden, with a robust local presence in both countries. Established in 2001 and headquartered in Oslo, Norway, the company offers a comprehensive range of services, including full-scale training centers and specialized treatments for muscular and skeletal disorders, as well as lifestyle-related diseases through its private hospital, NIMI. Stamina Group emerged from the merger of Hjelp24 and Friskhuset, which included fitness centers, alongside Avonova in Sweden. The company has also pursued several strategic acquisitions within the occupational health sector in both Norway and Sweden, as well as in the fitness segment in Norway, reinforcing its position in the industry.

Avonova

Venture Round in 2011
Avonova is a corporate health care provider in Sweden, known for its commitment to local service and nationwide coverage. The company emphasizes the importance of being close to its customers, enabling it to quickly respond to their needs and expectations. Avonova's strength lies in its employees, who possess strong local knowledge and understanding of their clients. By focusing on creating added value, the company aims to enhance the health and well-being of its customers and their employees, positioning itself as a leader in modern health care solutions.

Baneservice

Venture Round in 2011
Baneservice is a contractor specializing in machine and contractor services for the railroad industry in Scandinavia. The company focuses on constructing and maintaining telecommunications, signaling, and catenary networks, providing a range of services such as contact wire installation, tracing, mechanical track maintenance, and engineering solutions. With its headquarters located in Lysaker, Baneservice employs approximately 300 people and reported revenue of NOK 662.7 million in 2015. The company is owned by the Ministry of Trade and Fisheries, emphasizing its commitment to supporting the infrastructure of the rail sector.

Puzzel

Venture Round in 2010
Puzzel is a developer of cloud-based contact center software that integrates multiple communication channels, including phone, email, web chat, social media, SMS, and payment inquiries, into a single application. The company's platform focuses on delivering exceptional service by providing unified communications solutions, as well as switchboard services. Puzzel also offers a range of network options, including wired and wireless systems, and provides both onshore and offshore IT consulting services. This comprehensive approach enables clients to effectively manage all aspects of customer contact in an efficient manner.

New Store Europe

Venture Round in 2010
New Store Europe provides retail designs, project management, manufacturing, logistics, and installation services for new and existing stores. The company provides its services in more than 30 countries in Europe, the Middle East, Africa, and the U.S.

Bandak Group AS

Venture Round in 2010
Bandak Group specializes in advanced mechanical systems and components, catering primarily to the offshore oil and gas, maritime, defense, and space industries. The company operates manufacturing facilities where it provides a range of mechanical-based engineering services, including the production of tubular products and subsystems. Through its expertise, Bandak aims to deliver innovative solutions that meet the specific needs of these sectors.

Projectiondesign

Acquisition in 2009
Projectiondesign is a Norwegian company specializing in the design, manufacture, and marketing of high-performance projectors tailored for professional, business, and consumer applications. The company serves diverse markets, including scientific visualization, simulation, medical imaging, post-production, domestic home cinema, business presentations, broadcast, and theater. With a focus on high-resolution output, Projectiondesign aims to meet the needs of various sectors that require advanced imaging solutions.

Projectiondesign

Private Equity Round in 2009
Projectiondesign is a Norwegian company specializing in the design, manufacture, and marketing of high-performance projectors tailored for professional, business, and consumer applications. The company serves diverse markets, including scientific visualization, simulation, medical imaging, post-production, domestic home cinema, business presentations, broadcast, and theater. With a focus on high-resolution output, Projectiondesign aims to meet the needs of various sectors that require advanced imaging solutions.

Maarud

Venture Round in 2008
Maarud is a prominent manufacturer of salted snacks, primarily operating in the Nordic and Baltic regions. The company is known for its iconic brands, including Maarud and Estrella, which hold strong market positions in Norway and Sweden, respectively. Maarud specializes in a diverse range of potato-based salted snack products, catering to various consumer preferences. The company's headquarters is located in Oslo, Norway, and it operates manufacturing facilities in Disenå, Norway, and Angered, Sweden, as well as in Kaunas, Lithuania for its Baltic operations. Through its established brands and strategic presence in the region, Maarud continues to be a key player in the salted snacks market.

Estrella Maarud

Acquisition in 2008
Estrella Maarud manufactures and markets salted snacks.

Gothia Financial Group

Private Equity Round in 2008
Gothia Financial Group AS is a financial services firm that specializes in debt collection, invoice administration, and financing solutions. The company offers a range of services, including invoice purchasing and debt purchasing, catering to both private consumers and businesses. Gothia Financial Group serves various sectors, including motor finance, banking, insurance, and commercial clients, providing tailored financial solutions to meet their needs.

Gothia Financial Group

Acquisition in 2008
Gothia Financial Group AS is a financial services firm that specializes in debt collection, invoice administration, and financing solutions. The company offers a range of services, including invoice purchasing and debt purchasing, catering to both private consumers and businesses. Gothia Financial Group serves various sectors, including motor finance, banking, insurance, and commercial clients, providing tailored financial solutions to meet their needs.

Nevion

Venture Round in 2008
Nevion is a Norwegian company based in Lysaker that specializes in video signal processing and transportation equipment. With over 20 years of experience, it focuses on designing, developing, deploying, and supporting software-defined technologies that facilitate virtualization in media production. Nevion's solutions are crucial for broadcasters, telecom service providers, governmental agencies, and various other industries, enabling them to achieve mission-critical, real-time media transport and processing. By providing these advanced technologies, Nevion helps its customers enhance their agility, productivity, and competitiveness in an ever-evolving media landscape.

Aibel

Private Equity Round in 2007
Aibel is a global provider of engineering, procurement, and construction (EPC) services, primarily serving the oil, gas, and renewable energy sectors, including offshore wind. The company specializes in a comprehensive range of services that encompass the entire life cycle of projects, from initial concept studies and front-end engineering design (FEED) to fabrication, installation, system completion, and ongoing maintenance. Additionally, Aibel offers operational support and decommissioning services, ensuring that projects are managed efficiently and effectively throughout their duration.

Hatteland Display

Venture Round in 2007
Hatteland Display is a leading manufacturer of advanced displays for the maritime sector. The company offers robust, challenging, and long-lasting displays for the maritime industry. Commercial shipping, mega yachts, and military/defense are important sectors. Hatteland Display provides goods to a market where dependability and quality are crucial. The business has maintained a steady focus on high-quality items, which has given it a solid position in this market. The vast majority of Hatteland Display's goods are shipped outside of Norway. The top and most demanding system integrators and system providers in the maritime industry are on the list of clients. Hatteland Display is headquartered at Nedre Vats outside Haugesund in Norway, where it also has its manufacturing facilities.

Micro Matic Norge

Venture Round in 2007
Micro Matic Norge AS is a distributor specializing in technical control systems and installation materials for various sectors, including electrical, heating, ventilation, and energy infrastructure. The company imports and markets components designed for the management and control of technical installations, catering to both rehabilitation projects and new constructions. Its product offerings include controls for lighting, heating, and ventilation, positioning Micro Matic Norge as a key player in the distribution of electrical materials and smart applications within the HVAC and energy sectors.

Beerenberg

Private Equity Round in 2006
Beerenberg AS is a company based in Bergen, Norway, specializing in maintenance and installation services for the oil and gas industry. Founded in 1977, it provides a comprehensive range of offerings, including insulation, scaffolding, surface treatment, passive fire protection, and architectural outfitting. Beerenberg also focuses on innovative service solutions throughout the entire life cycle of projects, from field studies and new builds to maintenance and modifications. Among its services are the redesign of living quarters, construction of protective wind walls, and advanced habitat solutions such as Sveisolat. The company is recognized for its commitment to technical cleaning and robotic surface treatment, ensuring effective and safe operations in complex industrial environments.

European House of Beds

Private Equity Round in 2006
European House of Beds A/S, founded in 2008 and headquartered in Horsens, Denmark, is a prominent manufacturer and designer of beds and mattresses. With extensive experience in the bedding industry, the company creates and promotes well-known consumer brands such as Ecobed, Livingbed, Temprakon, and Kinnabädden. European House of Beds focuses on providing innovative and comprehensive bedding solutions tailored for retail chains and e-commerce platforms in Scandinavia. Their design teams are adept at developing unique customer brands for select clients, ensuring that they remain attuned to current trends in comfort and design.

Micro Matic Norge

Acquisition in 2006
Micro Matic Norge AS is a distributor specializing in technical control systems and installation materials for various sectors, including electrical, heating, ventilation, and energy infrastructure. The company imports and markets components designed for the management and control of technical installations, catering to both rehabilitation projects and new constructions. Its product offerings include controls for lighting, heating, and ventilation, positioning Micro Matic Norge as a key player in the distribution of electrical materials and smart applications within the HVAC and energy sectors.

Noratel AS

Acquisition in 2005
Noratel AS manufactures customized transformers and wound components.

Noratel AS

Venture Round in 2004
Noratel AS manufactures customized transformers and wound components.

Pronova BioPharma Norge AS

Private Equity Round in 2004
Pronova BioPharma Norge AS provides researches, develops, and manufactures marine-originated omega-3 derived pharmaceutical products.
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