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VestfoldLAB: from restructuring to growth and sale

VestfoldLAB is an accredited chemical and microbiological contract laboratory providing sampling, analysis and quality control of water and food for public and private clients, including Mattilsynet, the Norwegian Food Safety Authority.

As Managing Director, I led VestfoldLAB through restructuring, modernisation and substantial revenue growth. I also had full responsibility for the sale process that led to its acquisition by SGS.

“Bent took over VestfoldLAB after a challenging year in which we had lost two of our three largest customers and revenue had fallen by 25–30%. The business also had a significant need for modernisation and digitalisation. Bent turned the business around and increased sales by approximately 70%, while also carrying out extensive modernisation. He also held overall responsibility for the sale process, which ultimately resulted in VestfoldLAB being sold to SGS, one of Switzerland’s largest listed companies.”

Torhild Bering Wiik
Chair of the Board, VestfoldLAB, March 2021–January 2025

The starting point

When I joined, the company had lost two of its three largest customers. Revenue had fallen by 25–30%, and the laboratory and its operations needed modernisation and digitalisation.

My role was to stabilise the business, restore revenue and strengthen the foundation for future growth.

What I did

I was responsible for operations, finance, people, sales and business development. Working with the team, I strengthened sales activity and led the following improvements:

  • Sales, customer development and public tenders.
  • Modernisation and expansion of the laboratory facilities.
  • Introduction of a new laboratory information management system (LIMS).
  • Replacement of business and quality management systems.
  • Development of business processes and organisational structure.

Leadership through a difficult period

Early in my tenure, approximately one-third of employees had to be temporarily laid off. During that period, I called them every two weeks to ask how they were doing and update them on the company’s situation.

VestfoldLAB received Norway’s diversity award, Mangfoldsprisen, for building an inclusive workplace and enabling highly educated immigrants to use their expertise in relevant roles.

Growth and sale

Revenue increased by approximately 70% between 2021 and 2023. During the same period, we modernised the laboratory, digitalised operations and expanded the facilities by approximately 70%.

I led a sale process involving three global laboratory groups, resulting in a sale to SGS, the global testing, inspection and certification company.

Experience relevant to acquisition support

I understand both what it takes to run a Norwegian company and the priorities of owners considering a sale. I use this experience to assess the business behind a target, advance dialogue with sellers and identify the issues a new owner needs to address.

After an acquisition, the investment rationale must become management direction, commercial priorities and operational improvements. This experience also informs my support during that transition.

Discuss an acquisition in Norway