Norwegian owners acquire all shares in Geminor Group
Geminor CEO Kjetil Vikingstad and COO Ralf Schöpwinkel buy out their Danish partner and secure 100 percent ownership of the waste management group.
CEO Kjetil Vikingstad and COO Ralf Schöpwinkel have until now shared ownership of Geminor AS with waste management company Gemidan. The Danish company has now sold its 36,4 percent stake in Geminor AS to Geminor Invest AS, a holding company controlled by Vikingstad and Schöpwinkel. The two company managers now hold all shares in Geminor AS, which also includes ownership of all Geminor’s international subsidiaries.
Building a sustainable company
Geminor was originally a subsidiary of Danish Gemidan, and was established in 1994 to offer services in the field of processing and treatment of waste in the Norwegian waste and recovery market. In 2004, Kjetil Vikingstad acquired 60 percent of the shares in Geminor and developed the company into a significant waste management player in the European waste and recovery industry. At present, the company has headquarters in Karmoy, Norway, with an annual turnover of approx. EUR 118 million.
CEO and co-owner of Geminor AS, Kjetil Vikingstad, comments on the acquisition.
– After many years of good cooperation, we finally part with our co-owner Gemidan. For a long time, we have wanted to acquire all the shares in Geminor AS in order to control the company’s further development in Europe. The ambition is to build the company further as a leading international player within the material recycling and energy recovery markets.
– This is a considerable and long-term investment, and we believe this is the right step to take for us, our employees and our business partners. Now we would like to take the lead in the development of a more efficient and sustainable industry.