Eterni is one of the largest and fastest growing workforce solution businesses in the Norwegian market serving ~1,500 customers within education, construction, logistics and production. The company was founded in 2011 and today has ~100 corporate employees across sixteen offices in Norway and Sweden.
Together with Moment, an existing Axcel portfolio company, the newly formed group will be a pan-Nordic provider of flexible workforce solutions with presence across Denmark, Sweden and Norway, above DKK 2 billion in combined revenue and a position as the natural consolidator of the fragmented and growing Nordic market for flexible labour.
“Since the acquisition of Moment, we’ve been searching for the ideal partner to build a pan-Nordic group within flexible workforce solutions. Eterni stood out as the best candidate having a strong fit and an impressive track-record of growth”, say Jeff Gravenhorst, chairman of the board and Christian-Schmidt Jacobsen, deputy chairman of the board and managing partner of Axcel.
“We are excited to join forces with Axcel and Moment and happy that we have found a partner that understands our industry and shares our values. The combination will enable us to improve our offering towards customers, while giving us the best conditions for continued growth and value creation“, says Rune Myrseth, CEO of Eterni.
The combination will enable exchange of best-practices and further strengthening the ability to serve customers, while preserving the strong local presence within the countries. No changes will be made to either Eterni’s and Moment’s management teams and organizations.
“I look forward to welcoming Rune and the rest of his team to the group. Moment and Eterni have similar cultures and share a deep focus on customer loyalty and employee satisfaction. The combination will strengthen our capacity to invest and accelerate our growth, both organically and through acquisitions” says Morten T. Højberg, CEO of Moment.
Eterni is acquired from Herkules, the founder and management. The founder and management will re-invest and remain as owners alongside Axcel and Moment’s management. The parties have agreed not to disclose any financial terms. The transaction is subject to customary regulatory approvals.