Norvestor will both acquire shares from the founders and contribute significant new capital to support the continued growth of Pearl's activities in the Nordics, the Baltics and beyond.

Pearl is a Nordic leader in IT solutions for demanding Nordic retailers and companies with complex logistical needs. Pearl has some 50 customers and a presence in Norway, Sweden, Latvia, Singapore and Ukraine. The company has revenues of above NOK 300 million in 2020 and a consistent track record of profitable growth. See www.pearlgroup.no for more information.

The newly formed Pearl InvestCo AS will be jointly owned by Norvestor and Pearl´s management and employees. The transaction is subject to customary regulatory approvals and will close in early 2021.

Alpha Corporate Finance AS acted as financial advisor to Pearl's shareholders, board of directors and management. Wiersholm acted as legal counsel.