Nordhaven advised Ryde and its founders in the majority sale to Equip Capital

28 may 2021

Ryde is the only major Norwegian e-scooter operator. The company was established in 2019 and has in a short period of time become the market leader / one of the market leaders in Stavanger, Trondheim, Bergen, Kristiansand, and Oslo.

Micromobility, including e-scooters, has the recent years had an explosive growth and is expected to continue to grow going forward. Among many use cases, micromobility services increase access to public transportation, reduce the amount of cars on the road, lower our environmental footprint, and provide convenient methods of transportation for short trips — all while being cost effective.

We are challenging the major international e-scooter operators, this requires both capital and professional owners. With Equip on the team we will continue and accelerate our strong growth and market presence", says Johan Olovsson, one of the founders of Ryde.

Our clear ambition is for Equip and Ryde to professionalize the industry. We will work closely with municipalities and authorities to facilitate micromobility in a responsible manner. At the same time, we expect that the industry will be provided reasonable conditions to operate", says Sverre B. Flåskjer, Managing Partner at Equip Capital.

In 2020, Ryde had a turnover of NOK 45 million and is set out to triple the turnover in 2021. Equip Capital is now acquiring a majority shareholding in the company. The three founders, who established the company in 2019, will continue in Ryde and maintain as significant minority shareholders.
About Equip Capital:
Equip Capital is a Nordic private equity firm focusing on investments in small and mid-sized companies. The team has extensive investment experience across the consumer, industrials, and business services sectors, and combines its experience, energy, and dedication to ensure success in building better companies and generating strong returns. 

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