Dear friends of Reiten & Co
After yet another busy year for Reiten the festive season is here again.
The world is constantly changing and so does our firm. Last year we celebrated our 25th anniversary; this year we have moved into new offices in the same building. Our approach to practicing active ownership has been shaped over time by managing funds on behalf of local and international investors and investing in 25 platform companies and more than 100 add-on acquisitions. It is this deep experience we expect to bring to our next development, which is active ownership in quoted companies.
In summary, 2018 has been a very busy year. Fund II, which owns Grilstad Holding, issued a bond to refinance the fund and paid out more than the cost of the investment. In fund IV we sold the last company, Totalreform, and wound up the fund. Malthus Uniteam in fund VI continued to deliver sound living solutions to private and public clients. In fund VII Brubakken focused on implementing a new ERP system and Questback developed its technological platform to enable clients full access to their cloud based solutions. Webstep delivered steady results as a quoted company, while Con-Form continued to deliver quality buildings and Competentia expanded its geographical reach.
On our new ventures, Scanship continued its journey focusing on cleaner oceans, we entered Data Respons seeking to influence the company in a positive trend, and towards the end of the year we invested in Navamedic, a company within pharmaceuticals and medtech.
The festive season is a time for reflection and spending time with friends and family. This year, like last, we give our support to The Church City Mission’s local charity project «GLED EN SOM GRUER SEG TIL JUL» who offer a warm meal, gifts and pleasant company on Christmas Eve to less fortunate people in Oslo.
We are entering 2019 with enthusiasm for sustainable value creation, exits and new investments, and we wish you all the best for the festive season and a prosperous new year.