Converto was established under the name Converto Capital Management in 2009 by Aker with a mandate to manage a number of investments in the Aker group placed in the Converto Capital Fund. Through comprehensive restructuring and development of the portfolio companies, significant values were created and realized for the owners.
In 2012, Converto Capital Management was sold from Aker to then-CEO Frank Reite. In 2013, an office was established in Ålesund and the company changed its name to Converto AS. The management agreement with Aker was maintained until its expiry in 2015.
Today, Converto is an independent advisory in Ålesund that works for owners, board and management in companies across sectors and geography. The company is made up of a team with broad experience from industry, finance and consulting. Converto is a partner-owned company, with chairman Frank Reite remaining the largest shareholder.
In 2015, Converto initiated the foundation of the investment company Novela AS in cooperation with Ivar Nesset’s In-Decision AS. Novela invests in companies located in Northwestern Norway or have a clear connection to the region. Novela’s purpose is to create values through active ownership of portfolio companies.
In November 2016, Converto acquired the management of the Midvest Fondene portfolio of two venture funds investing in companies in Central Norway. The two funds are fully invested with a total capital base of NOK 254 million. Converto’s target is to create returns for the fund owners through active development and realization of values in portfolio companies.