Norconsult Norge AS, a subsidiary of Norconsult ASA, has acquired 51% of the shares in Oslo-based project management and consultancy company SQM AS.

Established in 2018 and counting 7 employees, SQM optimizes their clients' property portfolio and ensures the best commercial development at all stages. The company provides commercial property development services, from consultancy related to the purchase of property, through financing, development and implementation to sales and management. SQM had revenues of NOK 19 million in 2022.

"We look forward to working closely with the SQM team, known as a well-regarded project development partner with an attractive customer base and impressive track record. SQM's total responsibility throughout the value chain makes its service offering one of a kind, and this is an offer we want to develop and strengthen in the future," says Bård Hernes, EVP Norway Head Office at Norconsult.

The acquisition is expected to close in February 2024. SQM will continue as a separate company and take advantage of being part of a larger professional environment.

DHT, our Partner in Norway, advised SQM on this sale.