Ernströmgruppen strengthens its position in the marine safety sector by acquiring the Norwegian company Norsap AS, the global market leader for high-quality operator chairs for the maritime industry. The company\'s products are used in various demanding maritime environments as well as in the flight simulation industry and other niches that require customisable high-end seating solutions.

The global market for operator chairs is increasing due to fleet expansion and a greater need for safety and ergonomics. In addition, the increase in digital interfaces and automated systems calls for more customised operator chairs.

Norsap sells its products mainly internationally, with partner representations in more than 20 countries. Turnover in 2023 was 125 MNOK, and the annual growth rate over the last three years has been 15%. Norsap was founded in 1969 and is based in Kristiansand, Norway, where the production facility is also located. The current management and employees will continue to drive the company forward in line with the existing direction.

Rune Iversen and I have reached an age where we believe that a new owner is the best thing for the company to ensure that the positive development of Norsap continues. We see Ernströmgruppen as a great harbour both for Norsap as a company and for all our skilled employees - says Øyvind Berntsen, Chair of the Board at Norsap.

The acquisition of Norsap is a natural extension of Ernströmgruppen\'s capabilities in marine safety, following the earlier acquisitions of Daniamant and Polyform.

I am very pleased that Norsap is now part of Ernströmgruppen and look forward to the coming years.

Ernströmgruppen has several companies in the marine industry, as part of many ambitious and successful collaborations. I am sure that we will all benefit from the close cooperation within the group - says Ove Jensen, CEO of Norsap.

We are very pleased that Norsap and its owners chose Ernströmgruppen as a strategic and long-term owner to continue developing the company towards its full future potential - says Håkan Skutberg, Head of Global Niche Products at Ernströmgruppen.

DHT Corporate Services, our Norwegian Partner, advised Norsap on this deal.