Driv News

Driv partners with N3

DRIV Kapital Fund I acquires 70% of the shares in N3 Group AS. The founders and management will continue to own the remaining 30%. N3 is a Norwegian provider of clean off entrance matting systems (“N3 core”) and IoT (“N3 IoT”) sensors to 2,300 public and private customers in Norway and Sweden. 
N3 was established in 1995 by current majority shareholders and key management, Henrik Foss (Chairman) and Dag Hognerud (CEO). The company’s offering includes clean off entrance matting systems that stop, limit and remove dirt and moisture, as well as vacuum cleaners. N3 also offers IoT sensors used to track the use of the vacuum cleaners and other cleaning appliances as well as indoor traffic and air quality.
N3 is experiencing growing demand due to increased focus on indoor air quality and effective cleaning, and the company’s solutions allow customers to cut costs and reduce their carbon footprint as well as their use of cleaning chemicals.
Together with management, DRIV has developed a tangible value creation plan. In the coming years, N3 will grow N3 core in Norway and Sweden by hiring new sales resources. The company will also continue to grow N3 IoT by introducing a dedicated sales team and expanding its offering. As a way to accelerate growth within N3 Core and N3 IoT, we will explore accretive add-ons. 

Fredrik Bysveen, Co-founder og Driv Kapital 
Telephone: +47 98 22 85 68
email: ftb@drivkapital.no