We partner with entrepreneurs
to build great businesses

SIKT KAPITAL

We are entrepreneurs. We know what it takes to build a business, and how to make a great business even better.

Sikt Kapital is not a fund. We invest our own money and time in a few companies that we love.

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We are looking for “the one”
(or maybe a few ones…)

We’re not building a portfolio of assets. We’re building a small group of outstanding businesses for the long haul. That’s why we’re extra picky.

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Established businesses

We invest in companies that have been around for years or decades. If others might call them boring, we are intrigued. After all, it’s what’s on the inside that counts.

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Great teams

Competence and drive are important. Integrity is a must. Adding new talent is often part of the journey, but the existing core team must be great.

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That extra something

The perfect opportunity is hard to describe, but we know one when we see one. When you start with a solid platform, small tweaks can be enough to achieve great results.

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Solid financials

We add most value where a business doesn’t need us to survive, but to thrive. There are no fixed rules, but we tend to look for revenues of NOK 100M-1B and EBITDA of NOK 10M-100M.

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We’ve done it before

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LEXIT

Entry: 2019
Exit: 2024
Turnover: Ca. NOK 1B at exit
Number of add-ons: 6

  • In 2019, we partnered with Gunnar, founder of Lexit. As Norway’s largest integrator of AIDC solutions, there was a strong foundation. With Gunnar seeking to step back from administrative duties, we brought in a new CEO and doubled down on the company’s core.

    Over the next five years, almost half of the business was divested as non-core, with proceeds recycled into strategic acquisitions. Profits grew nearly 5x, making Lexit the Nordic leader with over NOK 1B in sales.

    In 2024, a German PE fund acquired Lexit as it geared up for European expansion. We’re proud to watch its continued success.

    CLICK HERE FOR CASE STUDY

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DLVRY

Entry: 2018
Exit: Still active
Turnover: Ca. NOK 3.5B (2024)
Number of add-ons: 20+

  • The Norwegian foodservice market has long been challenging for smaller players. Procurement is key when COGS makes up 80% of revenues, but smaller actors lacked sufficient scale and purchasing capabilities. 

    We started in 2018 by merging three regional distributors and partnered with the PE fund Adelis in 2021 to accelerate the journey. Since then, the 3.5B NOK DLVRY Group has been formed through 20+ acquisitions.

    The newly formed group now enjoys best-in class procurement and combines a strong local presence with a cost-effective national structure. DLVRY is well on its way to changing the market for the better.

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ANICURA

Entry: 2014, 2017 (management investors)
Exit: 2018
Turnover: ca. NOK 6B at exit
Number of add-ons: 200+

  • AniCura was founded in 2011, when a handful of animal hospitals in the Stockholm region formed a group with a vision of shaping the future of veterinary care.

    We were investors and held key management roles between 2014 and 2019, as the company completed around 200 acquisitions and grew into a European leader with 5,500 employees across 10 countries.

    AniCura was acquired in 2018 by Mars, the family-owned company that is the world’s largest operator of veterinary clinics.

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    Øyvind Brøgger

    PARTNER / CO-FOUNDER

    Øyvind learned the ropes of day-to-day operations at AniCura Group. He started out as a country manager before serving as Chief Operating Officer with P&L responsibility for a rapidly growing business spanning 10 countries and over 5,000 colleagues.

    After AniCura was sold to the world’s largest veterinary group, Øyvind has dedicated his time to partnering with founders to grow small- and medium-sized companies into Nordic champions, first as a Partner at Scandic Invest and subsequently as a co-founder and Partner at Sikt Kapital.

    Øyvind started his career in management consulting, focusing on strategy, performance and M&A as a Manager at Bain & Company. He holds a BSc from the London School of Economics (LSE) and is a graduate of the Norwegian School of Entrepreneurship.

    Email: oyvind.brogger@siktkapital.no
    Tel: +47 94 50 72 10

  • Man in a suit jacket and dress shirt with a cityscape background.

    Erik Hauge

    PARTNER / CO-FOUNDER

    Erik previously co-founded Scandic Invest, specializing in acquiring and scaling businesses. Built from the ground up, Scandic Invest grew to include companies generating a combined revenue of over NOK 4 billion.

    Erik began his career at consulting firm Bain & Company, specializing in strategy, performance improvement, and M&A, primarily for private equity clients. Erik also served as Country Manager for AniCura, where he led a team of 500 veterinary professionals across 45 clinics, driving growth and operational excellence.

    He holds a BSc from the London School of Economics (LSE) and an MBA from INSEAD.

    Email: erik.hauge@siktkapital.no
    Tel: +47 94 50 72 13