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Episode 23 — The Stockholm Sessions, Part 1: Svein Olav Stölen, Turn Around Artist & Former Nomor CEO
Description
High pricing for pest control got Svein Olav’s attention as COO of Swedish retail coffee chain, Espresso House. Little did he know that he’d follow the white rabbit into pest control ownership, and bring a company back from the brink of bankruptcy.
After taking over as Nomor’s CEO, Svein Olav quickly made the rounds conducting interviews with both employees and customers. His employees didn’t know what they wanted, but Svein Olav knew what they needed.
Svein Olav resurrected a ‘given up’ culture. Take notes on his unique insights on female employees, language diversity, fitness, pay for performance, and celebrating success. The underdog, Nomor, grew to be the 4th largest pest control company in Europe and solid competitor with capabilities to service Sweden’s insurance demands.
Nomor’s turn around tale is one for the ages.
Potomac advised Nomor on its sale to ServiceMaster in 2019. The transaction was nominated for Nordic M&A deal of the year.