Since launching in November 2025 with five marinas, Marina Group has expanded its portfolio to 24 across Norway, Sweden and Finland. The Norwegian company, majority-owned by private equity firm Norvestor, has signed deals for another 20 acquisitions that are yet to be finalised and is projecting around 1.5 billion NOK (approximately $160 million USD) in revenue this year.
Marina Group was established in the final quarter of 2025 when Norvestor agreed to acquire five leading marinas in Sweden and Norway, with plans to consolidate the fragmented Nordic boat services market. The initial acquisitions were three Marindepån marinas in the Stockholm region, Vindö Marina on Sweden’s west coast and Stathelle Marina in Norway’s outer Oslofjord region.
The group also launched with co-founders Jan Frode Johansen as CEO and Morten Hofstad as executive chair, alongside management teams from the acquired marinas.
Marina Group has since expanded its portfolio to 24 marinas, Finansavisen reported. The 12 in Norway are concentrated across the southeast, with locations in Fredrikstad, Råde, Sannidal, Vettre, Larvik, Sandefjord, Tønsberg, Vear, Stathelle and Oslo, as well as Søreidgrend near Bergen on the west coast.
The eight in Sweden include new locations on the west coast around Grundsund, Fiskebäckskil and Tjörn, and in the east, including Bålsta and Bergshamra. The expansion has also reached Finland, with four locations in Helsinki, Pornainen, Porvoo and Tolkkinen.
In the same report, Johansen said the group has signed agreements for 20 further acquisitions that it has yet to complete. Including these additions, full-year revenue is expected to reach around 1.5 billion NOK ($160 million), while operations secured in Norway so far are projected to generate more than 500 million NOK ($53 million).
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He added that Marina Group aims to continue acquiring marinas and investing in their operations, keeping established teams involved and giving experienced operators the opportunity to become co-owners. The company plans to develop its businesses digitally and offer services across different parts of boat ownership.
This approach mirrors Norvestor’s wider investment model, built over more than three decades in the Nordic market. The firm backs businesses with the potential to become leaders in fragmented industries, working with existing management teams and their local knowledge to build scale through acquisitions and geographic expansion.
PHM Group, a property maintenance company, followed this buy-and-build approach, expanding from Finland into eight European countries and growing to more than 15,000 employees through over 200 acquisitions. First Camp, a Nordic camping operator, grew from 14 sites to 88 destinations across several European countries, consolidating a fragmented camping market.
The expansion also comes as Norvestor steps up its acquisition activity, having closed its latest flagship fund, Norvestor X, at a hard cap of €2 billion ($2.3 billion) in June 2026 and reported 148 add-on acquisitions over the previous 12 months.
Images from Marina Group.
