2021-22: Sale of 50% shares in new/demerged property development company to PWS Eiendom AS

Godhavn has in more than 40 years been active in development and administration of property development projects in the Trondheim region. The company has high competence within property development from leads/prospecs and acquisition of land to completed projects. In addition, they have a rental portfolio with dormitories and apartments centrally located. Godhavn is owned by the Godhavn family (father and two sons) and key employees. Godhavn was approaching a generational change among both owners and employees, and engaged Impello to define an owner’s strategy and alternative owner solutions (sales, part sales, merger, capital raise etc.) The project resulted in a new company structure with a division of the development portfolio (six early-stage development projects) and other business (organization, rental portfolio, and projects near completion or in guarantee period). A partner search for the development portfolio was initiated and dialogue with alternative financial and strategic investors took place. The result was a transaction with PWS Eiendom AS buying 50% of the shares in the new/demerged PWS Godhavn Utbygging AS. The owners behind PWS are the Paulsen, Williksen and Syltern families. Impello was the project leader through the entire process from definition of owner’s strategy, valuation in the reorganization (demergers, mergers), preparation of investor presentation, partner search, price negotiations, LOI and support in negotiation of SPA/SHA in cooperation with legal advisor.