Portfolio company news

All Group media enquiries should be directed to
Vanessa Maydon, Corporate Affairs Director.

Cinven Partners LLP
Warwick Court
Paternoster Square
London EC4M 7AG


Tel: +44 (0)20 7661 3325
Mob: +44 (0)7802 961 902
Email: Vanessa Maydon

Press releases

31 March 2016

Coor Service Management in new collaboration with Veidekke regarding school in Norway

Coor Service Management has signed a new agreement with Norwegian construction group Veidekke relating to a Public Private Partnership (PPP) project in Norway. The assignment entails Coor assuming responsibility for maintenance and FM services at Rykkinn School in Bærum outside Oslo for 25 years.

The new agreement covers coordination and management of services such as property maintenance, janitor services and cleaning. The contract has a term of 25 years with a total contract value of some NOK 100 m, of which NOK 75 m relates to fixed subscription services. Operations are scheduled to start in August 2016 when the school year begins.

"PPP projects place high demands on the quality of construction contractors and service providers alike. Coor has the experience and competence required for this kind of assignment. This is our first PPP partnership alongside Coor, and we look forward to professional delivery and a positive collaboration, commented Erik Økland, Head of Division at Veidekke Entreprenør AS.

Coor has signed a large number of contracts with new customers in Norway in recent years. Net sales in the Norwegian operations increased by 36% to SEK 2,103 m in the full year 2015, corresponding to 28% of Group sales.

"We're pleased with this new collaboration and look forward to optimizing the assignment alongside Veidekke. Demand on the FM market is generally stable throughout the Nordics, particularly in Norway where we continue to perceive growth potential. Accordingly, we've strengthened our Norwegian operations in recent years and are well equipped to meet demand in the region," commented Mikael Stöhr, President and CEO of Coor Service Management.