Current CEO Kjell Norvoll will join the company’s Board of Directors. Norvoll has been a shareholder and top executive at the company for several decades, and he will remain involved with Nogva for a transitional period in a strategic and business development role.

Pål Brynsrud, partner at Credo, commented: "We have great respect for what Kjell has achieved in building Nogva over his 44 years of leadership. The company has a strong culture, solid core values, and a fantastic reputation with its customers. The fact that we are able to attract a successor of Roy’s caliber is a strong endorsement of Nogva’s position. We are both pleased and proud of this. Roy also happens to be originally from Søvik – which I think is a fun little bonus."

Roy Reite stated: "Nogva is a well-managed company known for its quality and expertise. I look forward to developing the company further in collaboration with the employees and owners – it will be an exciting journey."

About Nogva
The Nogva Group has, over its 112-year history, grown into a trusted and recognized market leader in complete marine propulsion systems and generator sets. The company is headquartered in Søvik, Norway, with several subsidiaries in the Sunnmøre region, as well as in Molde and Svolvær. Today, the company delivers its products worldwide. The group has an annual turnover of approximately NOK 700 million and employs close to 200 people.

In January 2025, the owners of Nogva entered into an agreement to sell 51% of the company’s shares to Credo Partners. The existing owners have retained 49%of the shares.

For further information, please contact:
Kjell Norvoll, CEO of Nogva, +47 9139 7841 / kjell.norvoll@nogva.no
Pål Brynsrud, Chair of the Board at Nogva and Partner at Credo Partners AS, +47 9226 5656 / Brynsrud@credopartners.no