Private equity investor Polaris has divested its majority shareholding in the SSG Group to BELFOR.
The Nordic company will put its resources in BELFOR, which has more than 11,000 employees, and works on damage assessment and reconstruction.
Polaris worked with SSG to strengthen its position through acquisitions in Denmark and Sweden, with Rune Lillie Gornitzka, a partner at the former, saying it played a key role in the “consolidation of the Nordic damage control services market”
Carsten Fensholt, CEO of SSG Group, said the firm has “enjoyed cooperating with Polaris” giving it “valuable sparring, vast experience, analytical muscle and the financial firepower”.
BELFOR will now look to take ownership of SSG and push for growth, and they agreed not to disclose a sale price.