Unfold has become a part of The North Alliance (NoA). NoA is simultaneously investing in Unfold’s venture initiative.
Run by individuals with world-class competence, NoA is the leading actor in the Nordic region in strategic creativity and technology. The NoA companies collaborate closely across areas of expertise and national borders, contributing to growth for principals through a strong customer orientation.
Its most recent addition, the design and technology company Unfold, further strengthens NoA’s investment in a strategic and society-oriented development of digital products.
«Unfold is in possession of a unique competence and methodology, along with some of the industry’s best projects and margins. We have been following the company’s evolution from the start and expressed our interest as soon as we saw how their model took off. At NoA we are constantly on the look-out for the best people and the best communities, and we continue to tear down walls in the industry. This acquisition will strengthen the entire group in terms of strategy, services, and profitability,» says Thomas Høgebøl, working Chairman of the Board at NoA.
A perfect match
Unfold currently has thirty of its people involved in collaborative projects with OBOS, Flyr, Krogsveen, Hyre, Anton Sport, Dintero and Mestergruppen, among others. Several large international and Scandinavian industry clusters have been interested in acquiring the company in recent years, but NoA stood out as unquestionably the best and most strategic partner.
«In recent years we have been on a journey of solid growth and found a formula that delivers high value for our partners. We recently hit an impasse, however, due to own limitations and therefore considered either upscaling ourselves or merging with someone else. NoA emerged as the perfect match in terms of its ownership model, staff expertise and portfolio, all of which will provide for continued mutual growth. The welcome we have received from the NoA family has been overwhelming and we look forward to getting started on this next chapter,» says Egil Stene-Johansen, owner and Managing Partner of Unfold.
Acquisition and joint venture
This is NoA’s fifteenth acquisition in the past seven years and as Unfold joins the alliance, other members include NoA Consulting, NoA Ignite, Bold, North Kingdom, & Co, Anorak and Åkestam Holst.
Høgebøl believes both new and existing clients will quickly derive benefits from the best of what the NoA companies and the Unfold community have to offer.
«I believe that Unfold’s start-up competence and strategically positioned product development, combined with NoA Ignite’s technological depth and breadth, can provide immediate answers to the question of the type of value we will create together. Another sector is e-commerce. Both the NoA companies and Unfold are particularly strong in this area and together we will be able to assist our clients through our virtually unrivalled ambitions for holistic growth.
NoA is also investing in a joint venture with the partners in Unfold.
«It is through the combination of working with both start-ups and established companies under restructuring that we have created our unique model. Our focus is on risk and business strategy, on top of our being renowned for our end-user and society-oriented approach to all the products we develop. The investment of NoA and Norvestor in our venture initiative is a confirmation that will enable us to accelerate and bolster the launch of our work onto the market,» say Kai Holmberg, partner and Head of Strategy at Unfold.
NoA is ready to pull out the stops and looks forward to seeing what Unfold will achieve together with the other companies in the alliance.
«There will be no shortage of collaboration between Unfold and the rest of the NoA companies. In order to continue its development, Unfold requires greater bandwidth. Everyone at NoA feels like there’s a brand-new car in the garage and the entire family wants to borrow the keys,» Høgebøl says.
For more information:
Thomas Høgebøl, Chairman of the Board, NoA // +47 950 92 000
Egil Stene-Johansen, Managing Partner, Unfold // + 47 928 62 897