Our investments
Crayon target price 195 NOK
Crayon is a Top 5 worldwide Value-Added Reseller of products from Microsoft and other leading tech companies in the world. They have 4.000 employees, have a significant consultancy business and has been growing 20% CAGR organically last years. They are entering 2025 with good steam on most engines and we should expect another year with double digit profitable growth and massive Net Income improvement. We have a target price sized 195 NOK. Read our latest analyses dated Feb 17th.
Protector Forsikring is a Nordic based P&C Insurance Company with 40% of its revenue from UK, now entering France. Sverre Bjerkeli was co-founder of the company in 2004 and worked as CEO in 15 years until he left in 2021. Read Sverre and David’s top quality analysis :) on PROT by pressing the links bellow and you will learn more about this profitable growth compounder.
Morrow Bank target price 17,9 NOK
Morrow Bank is a Scandinavian consumer credit bank that scores very well on all KPIs. They have a market-leading cost-to-income (C/I) ratio of 26%, demonstrate prudent growth, and maintain solid credit control. Following a recent portfolio acquisition in Q3 2024, profitable growth is currently underway. An application for a banking license in Sweden (moving from Norway) has been submitted to the authorities, with expected feedback in Q2. A favorable response would provide further upside for the share, but the risk-reward remains highly attractive even without a Swedish license.
B3 Consulting Group
B3 Consulting group is a Swedish consultant company in the IT sector with a strong growth story and a fast growing company in Poland. Sverre Bjerkeli is the chairman of B3 Consulting Group. After a silent period for more than a year we will soon be back with an short analysis on the company.
WEBSTEP
Webstep is a Norwegian consultant company in the IT sector in Norway. Read more about WSTEP here. David Bjerkeli is a board member in Webstep. After a silent period for more than a year we will soon be back with an short analysis on the company.
LINK Mobility
LINK Mobility is one of Europe's leading providers of mobile communications and Communications Platform as a Service (CPaaS) solutions, based on volume of messages, customer engagement serving corporate customers, SMEs and public sector customers.
Other Investments
At the moment we have smaller positions in companies in on our prospect list. They are typically companies suggested by people we know to be very competent value investors.