Rieber & Søn

What Rieber & Søn does

Rieber & Søn is a Norwegian family-owned investment holding company headquartered at Kalfarveien 57A in Bergen, with a Singapore subsidiary (Rieber & Son Pte. Ltd.) managing Asian securities and direct investments. Its industrial roots date to 1839, when P.G. Rieber founded a trading and vinegar factory in Bergen; after the Rieber family's shipwreck north of Bergen in 1817 and growth into a major Norwegian industrial group (292 to 1,591 employees between 1950 and 1970), the company was listed on the Oslo Stock Exchange in 1987, acquired by Orkla ASA in 2012, and re-established in 2015 as a long-term active investment vehicle under its original family name (October 2019). The firm targets majority stakes in Nordic companies with revenues of NOK 75-750 million, deploying proprietary family capital across four pillars: direct investments (45%), securities and bank deposits (35%), shipping (10%), and cash flow investments (10%).

The direct-investment portfolio spans at least 10 active operating companies: Metzum AS (wholly-owned since December 2024), whose Moment SaaS platform delivers billing and settlement for electricity providers, grid operators, district heating suppliers and broadband operators across Norway, Sweden and Finland; WaterCircles Forsikring ASA (majority-owned) with the Winterbergh and WaterCircles insurance brands; Accept Försäkringsaktiebolag (acquired November 2024), a Stockholm-based specialty insurer focused on income protection; QFree (intelligent traffic systems and tolling); Fonn Group (media production technology); TCO (downhole oilfield technology — glass barrier plugs, chemical injection, TCP); GSFleet and Handyman (fleet management and field-service software); and Eiendomskreditt AS (22.7% stake, NOK 4.7B in total assets, a commercial real-estate lender). The shipping pillar operates seven 19,900 DWT stainless-steel chemical tankers and holds a stake in the Hansa Tankers pool (~50 vessels, 1.27M DWT capacity). Securities investments include a Norwegian bond mandate managed by Borea Asset Management and externally-managed foreign equity and bond positions; the Singapore office handles the Asian book.

Rieber & Søn does not charge external management fees and does not raise fund capital from third-party LPs; it invests proprietary family capital alongside selected co-investors. Returns are generated through capital appreciation on majority-owned subsidiaries, dividends, securities gains, interest spread at Eiendomskreditt, and shipping charter income. Distribution is direct and relationship-driven — sourced through the firm's 180+ year Norwegian network, sector expertise, and an in-house deal team of approximately 15-20 professionals in Bergen plus three senior staff in Singapore. Pricing and ownership terms for portfolio companies are negotiated case by case and are not publicly disclosed.

Name

Rieber & Søn

Legal name

Rieber & Søn AS

Website

https://rieberson.no

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Rieber & Søn is a Norwegian family-owned investment company that acquires majority stakes in Nordic mid-market businesses (NOK 75-750M revenue) and manages a diversified portfolio across SaaS, insurance, shipping, and real estate credit.

Ownership category

akta.pro rank

Product category

Private Equity and Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

akta.pro secondary industry

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA)

Keywords

• Private equity investments
• Portfolio investment management
• Direct equity holdings
• Asset management services
• Industrial investment holding

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Infrastructure

Revenue model

1. Direct Investment Returns: Rieber & Søn generates returns through active ownership in portfolio companies across multiple sectors including technology, insurance, shipping, and real estate credit. The company targets majority investments in companies with revenues of NOK 75-750 million.
2. Securities Portfolio: Theme and case-based positions in Norway, Norwegian bond portfolio managed by Borea Asset Management, plus more globally focused investments in foreign equities and bonds through external managers.
3. Shipping Operations: Through subsidiary companies, Rieber & Søn has ownership in six chemical tankers operating in worldwide freight of bulk chemicals. Additional ownership stake in Hansa Tankers Management pool.
4. Cash Flow Investments: Real estate investments and other assets generating continuous cash flow for portfolio balance.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Rieber & Søn is a Norwegian family-owned investment company that takes majority stakes in Nordic companies with revenues of NOK 75–750 million across direct investments (45% of portfolio), securities (35%), shipping (10%), and cash flow investments (10%). It provides long-term active ownership, strategic guidance, and capital to portfolio companies spanning SaaS billing, intelligent traffic systems, insurance, fleet management, real estate lending, media technology, oilfield services, and chemical tanker shipping.

Product overview

Rieber & Søn is a Norwegian family-owned investment company with an industrial heritage dating back to 1839. The company operates as a diversified investment firm with four main investment areas: Direct Investments (45% of portfolio), Securities and Bank Deposits (35%), Shipping (10%), and Cash Flow Investments (10%). Their direct investment portfolio consists of portfolio companies operating in sectors including SaaS software (Metzum with Moment platform for billing/settlement), intelligent traffic systems (QFree), media production technology (Fonn Group), oil industry technology (TCO), insurance (WaterCircles, Accept Försäkringsaktiebolag), fleet management (GSFleet, Handyman), real estate lending (Eiendomskreditt), and shipping (chemical tankers through Hansa Tankers). The company also manages a portfolio of Norwegian bonds and international securities investments.

Differentiator

Problem solved

Functional benefit

Brands

• WaterCircles: Insurance brand under WaterCircles Forsikring offering non-life insurance for selected customer groups
• Winterbergh
• Hansa Tankers

Products and services

• Direct Investments Long-term active ownership with majority stakes in Nordic companies across technology, insurance, shipping, real estate lending, media technology, and industrial sectors. Targets companies with revenues of NOK 75–750 million and provides strategic guidance, capital, and operational support.
• Securities Portfolio Theme and case-based securities investments including a Norwegian bond portfolio managed by Borea Asset Management and global foreign equity and bond mandates with external managers. Represents 35% of total portfolio allocation.
• Shipping Operations Ownership in seven 19,900 DWT stainless steel eco chemical tankers (Sun Ploeg, Sky Ploeg, Sea Ploeg, Star Ploeg, Snow Ploeg, Spring Ploeg, Summer Ploeg) operating worldwide freight of bulk and IMO II/III liquid chemicals, plus ownership stake in the Hansa Tankers Management pool of approximately 50 vessels.
• Cash Flow Investments Real estate and other asset investments that generate continuous cash flow for portfolio balance, representing 10% of total portfolio allocation. Includes positions in assets such as Eiendomskreditt, an independent credit institution with NOK 4.7 billion in total assets.

Quantifiable outcome

• Metzum became the largest billing solution provider in Norway's power trading market since 2020
• +2 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• FjordkraftcoreStrategic or Co-development Partner · 5 February 2020Rieber & Søn co-founded Metzum with Fjordkraft in 2020, with each holding 40% ownership and employees holding 20%. The partnership established a technology company delivering billing software to electricity providers and grid companies. In December 2024, Rieber & Søn acquired Fjordkraft's stake to become sole owner.
• Hansa Tankers ManagementcoreStrategic or Co-development PartnerHansa Tankers Management operates the chemical tanker pool in which Rieber & Søn's vessels participate. Founded in Bergen in 2010, the pool has grown to approximately 50 vessels with 1.27 million DWT capacity.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Aars (Aars AS): Norwegian family-owned investment company with diversified holdings across shipping, real estate, and financial services. Both are Bergen-rooted, multi-generational family investment firms with similar long-term ownership philosophies and diversified Nordic portfolios.
• Wilh. Wilhelmsen Holding: Norwegian family-controlled investment and shipping company headquartered in Norway. Both maintain diversified investment portfolios with significant shipping exposure and long-term family ownership orientation.
• Bonheur ASA: Norwegian family-controlled investment company with diversified holdings including shipping, offshore energy, and renewable energy. Similar structure as a Bergen-rooted investment holding with active ownership approach.
• Awilhelmsen Group: Norwegian family-owned investment company managing diversified portfolio across multiple sectors. Comparable as a multi-generational family investment firm with similar long-term value creation philosophy.
• Ferd AS: Norwegian family-owned investment company owned by the Andresen family. Similar structure as a privately-held investment company with diversified portfolio across Nordic companies with active ownership approach.
• Stronghold Invest AS: Norwegian family-owned investment company with diversified holdings. Comparable as a Nordic family investment firm with similar portfolio approach across multiple sectors.
• Verdane Capital: Nordic investment firm focused on technology-enabled growth companies in the Northern European region. Comparable as a Nordic investment firm with similar focus on technology-enabled businesses and growth equity investments.
• Summa Equity: Nordic private equity firm investing in companies with NOK 50M-NOK 500M+ in revenue. Direct comparison as Nordic investment firm targeting similar mid-market companies in technology and growth sectors.

Regional players

• Lyngen Kapital: Norwegian investment company focused on Nordic investments with diversified portfolio approach. Similar Nordic family-controlled investment philosophy though primarily focused on financial investments.

Broad incumbents

• Orkla ASA: Norwegian industrial investment company and former acquirer of Rieber & Søn's food business. Both are Bergen/Norway-rooted industrial investment companies with branded consumer businesses, though Orkla operates at much larger scale.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/atlantis-vest-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rieber & Søn