--- title: "NDC | A permanent owner of mature companies" description: "We only invest in well-run companies and want them to continue exactly as before. We do not get involved in the day-to-day running of the business, but we can contribute capital and be a sounding board for management." url: https://ndc.no/en/ language: en alternate: https://ndc.no/ (nb) summary_for_assistants: https://ndc.no/llms.txt --- # NDC is a permanent owner of mature, profitable companies We only invest in well-run companies and want them to continue exactly as before. We do not get involved in the day-to-day running of the business, but we can contribute capital and be a sounding board for management. ## What we believe in ### [Continuity](https://ndc.no/en/what-we-believe#continuity) Employees and customers should not notice a change of ownership We invest in well-run companies where management wants to stay on and keep the business running exactly as before. ### [Decentralised management](https://ndc.no/en/what-we-believe#decentralised) We prefer an entrepreneurial culture to a corporate hierarchy NDC does not get involved in the day-to-day running of the companies we buy. That responsibility rests with the CEO of each company. ### [Extreme long-termism](https://ndc.no/en/what-we-believe#long-term) Decisions are made with an infinite time horizon Many investors buy in order to sell again. We believe that model can come at the expense of what is best for the company in the long run. ## What we look for Mature, profitable companies headquartered in Northern Europe. - **Financial criteria** Operating profit in the region of EUR 1 to 4 million. - **Sustainable growth** Companies that have grown steadily over a long time. - **Resilience** A long record of good profitability, including in downturns. - **Strong market position** We like niche companies that do not have to compete on price alone. - **Good management** We only buy well-run companies, and the management team carries on as before. - **No grey areas** Everything we do should stand up to scrutiny. We believe that pays off in the long run. Does this sound like your company? [Get in touch](mailto:hello@ndc.no) [Tip us about a company](mailto:hello@ndc.no) ## How a sale to NDC works You set the pace. 1. **Getting to know each other** We talk, whether you get in touch or we call you. We want to get to know each other, understand the company and hear what you have in mind for it. Everything stays between us, and there is no obligation to proceed. 2. **Offer** After an NDA, we go through the numbers and meet the team in person. If both sides want to go further, we make a written offer with a price and plain terms. 3. **Due diligence** We check that what we have seen holds up, mostly the accounts and the main contracts. We keep it short and stick to what matters. 4. **Signing and completion** Decisions on our side are made by a small team, and the agreements are plain. Our offer does not depend on financing, so we move quickly from agreement to completion. 5. **Monday morning** **What doesn’t change** - The name, the brand and the culture stay. - The CEO and the team keep running and developing the company exactly as before. - Customers and suppliers deal with the same people as before. - Office, systems and ways of working stay as they are. **What changes** - We take a seat on the board and ask for light reporting. - We can contribute capital for profitable investments in the company, and for acquisitions. - The CEO joins a network of other NDC company leaders. ## Team ### Tarjei Unneland CEO & Co-founder [tarjei@ndc.no](mailto:tarjei@ndc.no) [+47 915 99 597](tel:+4791599597) [Tarjei Unneland on LinkedIn](https://www.linkedin.com/in/tarjei-unneland-366508101/) ### Sebastian Fredenlund Co-founder [sebastian@ndc.no](mailto:sebastian@ndc.no) [+47 977 50 081](tel:+4797750081) [Sebastian Fredenlund on LinkedIn](https://www.linkedin.com/in/sebastian-fredenlund/) ### Karsten Hjelseth Investment Director [karsten@ndc.no](mailto:karsten@ndc.no) [+47 907 39 296](tel:+4790739296) [Karsten Hjelseth on LinkedIn](https://www.linkedin.com/in/karsten-hjelseth-a3ab231/) ### Xu Zhao Investment Analyst [xu@ndc.no](mailto:xu@ndc.no) [Xu Zhao on LinkedIn](https://www.linkedin.com/in/xu-zhao-cfa-cipm-16101a5b/) ### Ulrich Witt Investment Director [ulrich@ndc.no](mailto:ulrich@ndc.no) [+49 152 3464 0458](tel:+4915234640458) [Ulrich Witt on LinkedIn](https://www.linkedin.com/in/ulrichwitt/) ### Oddbjørn Vegsund Investment Director [oddbjorn@ndc.no](mailto:oddbjorn@ndc.no) [+47 406 39 919](tel:+4740639919) [Oddbjørn Vegsund on LinkedIn](https://www.linkedin.com/in/oddbjorn-vegsund-48697043/) ## What owners usually ask us ### Do I have to stay on after selling? We prefer that existing management keep running the company, but it’s not a condition. If you or your CEO want to step back, we plan the succession together, at your pace. ### Is NDC a private equity fund or a broker? Neither. A broker or advisor represents the seller and runs the sale. A private equity fund buys, usually with debt placed on the company itself, and sells it on after a few years. NDC is the buyer. Our capital has no end date, so we buy to keep. ### Do I need an advisor to talk to you? No. You can talk to us directly. You don’t need to prepare anything for the first conversation, and it commits you to nothing. If you’d rather have an advisor involved, that’s fine with us too. ### What happens to my employees? The company keeps operating as before, with the same people and the same leadership. Employees keep their jobs, and customers deal with the same people they always have. ### How fast can you move? Quickly, if that is what you want. Decisions on our side are made by a small team, and our offer does not depend on financing. If you would rather take it slowly, we follow your timetable. ### Is NDC right for every company? No. If you want a buyer who will merge the company into a group, or an owner who takes over the running of it, an industrial buyer is a better fit. If you want the company to keep running itself, with the same people, that is what we are set up for. ### There are several of us who own the company. Does that work? Yes. Many of the companies we talk to have several owners, often in one family. We talk to whoever the owners want us to talk to, and the offer is the same whether there is one owner or ten. ### Do I have to sell everything? No. We buy a majority, and owners who want to keep a share can do so. Owners can also reinvest part of the proceeds in NDC itself, on the same terms as our investors. ### Any other questions? [Get in touch](mailto:hello@ndc.no) **Office** Parkveien 71 0254 Oslo **Contact** [hello@ndc.no](mailto:hello@ndc.no) Org. no. 836 596 722