Nogva Group during the first year of partnership with Credo
Credo Partners and the founder owners of Nogva joined forces in March 2025 to drive an ambitious growth plan for Nogva Motorfabrikk, a leading Sunnmøre-based provider of engines, propulsion systems, and turnkey solutions to the aquaculture and maritime sectors. The company has a history of stable growth and profitability, supported by its representation of well-known engine brands and its own marine gearboxes and propellers.
Since Credo’s investment, Nogva has strengthened its organization. Roy Reite has been recruited as CEO, the management team has been reinforced with several key hires, and there has been good progress in building an integrated Nogva Group.
Strengthening the aftermarket position was another top priority for the Nogva partnership. We are pleased to have completed an acquisition that truly complements and elevates the company's strategic position within service and aftermarket.
Strengthened aftermarket and service offering through acquisitions
Nogva has historically focused mostly on new sales of engines and propulsion systems, with aftermarket services to the installed base being an important part of the overall customer offering. Nogva has now acquired both Maritim Motor and Marine Parts & Propulsion to complement its strategic position, doubling Nogva’s service and aftermarket revenue and creating a more balanced and resilient portfolio.
These acquisitions also enable Nogva to expand its product portfolio to include medium speed engines, regulators, thrusters and spare parts from additional engine suppliers. The company has also expanded with offices in Tomrefjord, Bergen and Austevoll to improve coverage along the Norwegian coastline and increase service levels for customers. The investments in Maritim Motor and Marine Parts & Propulsion, and other recent initiatives reflect Nogva’s commitment to growth and to further improve the value proposition for its customers, suppliers and employees.
Strategic acquisitions in line with ownership ambitions
“Nogva is a good example of Credo’s investment logic for aquaculture and maritime services, with its position as a market leading integrator and a record of consistent growth across market cycles. Growing the aftermarket business was identified as a top priority for the joint ownership and we have worked actively to grow this area both organically and through acquisitions. The additions of Maritim Motor and Marine Parts & Propulsion to the Nogva Group are a result of this strategy and strengthen the strategic position of the Nogva Group”, says Stian Glendrange, Partner at Credo Partners.
Contact Information
Stian Glendrange, Partner, Credo Partners; Mob +47 9085 6257
Pål Brynsrud, Partner, Credo Partners; Mob +47 9226 5656
About Nogva
Nogva Motorfabrikk is a leading supplier of engines, propulsion systems, and services to the maritime industry. Nogva represents renowned engine brands such as Scania, John Deere, Cummins, and Nanni, and combines these with its own marine gearboxes, propellers, and other products to offer complete turnkey solutions to its customers. Nogva’s value proposition is based on quality, trust, and delivery time.
About Maritim Motor
Maritim Motor is based in Tomrefjord in Romsdal and specialises in the sale and service of diesel engines, regulators, and spare parts. The company is a distributor for, among others, Yanmar, Mitsubishi, Woodward and Regulateurs Europa, and has a broad customer base in the aquaculture and maritime sectors.
About Marine Parts & Propulsion
MPNP is located in Søreide, Bergen, and specialises in the sale and service of diesel engines, generators, and propulsion systems. The company is a distributor for brands including Mitsubishi, Baudouin, Sole Advance, and Veth Propulsion, and has a broad customer base within the maritime sector.
