Rikard af Sandeberg,
Managing Director in the Nordics and
Frank Hippen,
Managing Partner & owner of the Mehrwerk Group
Bielefeld, January 20, 2025 – The Mehrwerk Group, specialized in value-added solutions for banks, insurance companies and energy suppliers will now be operating under the Mehrwerk brand across all its active markets.
In January 2024, Mehrwerk stepped up its 10+-year growth trajectory by acquiring Tenerity Nordics. With this transaction, the Bielefeld-based company confirmed its successful operating performance and made its first acquisition abroad.
The acquisition includes Tenerity AS in Norway (Oslo), Tenerity AB in Sweden (Stockholm) and Tenerity ApS in Denmark (Copenhagen). The three national companies serve around 4 million end customers with more than 50 active partners, including major Scandinavian insurers and banks.
The acquisition followed Mehrwerk's buy-and-build strategy, which began in 2021 with the acquisition of the German CPP business. In 2023, the owner-managed Mehrwerk Group announced the acquisition of Tenerity Germany and took over the value-added platform Etvas. Recently, the Swiss value-added solution provider Inovatech Solutions AG also became part of Mehrwerk.
"With the integration of Tenerity Nordics, we are strengthening our position in the Beyond Banking segment and offering our customers an even broader range of value-added solutions. Working together on an international platform for value-added services enables us to tap into new potential and expand our services for our joint customer base," says Added Value COO Max Elsner. Following the successful integration of Tenerity Germany, the international expansion marks another important milestone.
According to industry expert Elsner, Tenerity's national companies in Scandinavia have built up an excellent reputation over more than 30 years and are now regarded as leading providers of value-added services in the Scandinavian banking and insurance landscape: "The company has set new standards, particularly in the areas of concierge services and ID protection." With an experienced team of around 70 employees, this acquisition opens up new perspectives for joint innovation and outstanding services. We look forward to outstanding product and marketing expertise in the Nordic region and see the integration of the local structures with the innovative spirit of the Mehrwerk Group as a "perfect fit" that holds considerable potential for further growth."
Rikard af Sandeberg, Managing Director of Mehrwerk AS (formerly Tenerity AS), Mehrwerk AB (formerly Tenerity AB) and Mehrwerk ApS (formerly Tenerity ApS): "With our many years of experience in serving Nordic customers and our extensive knowledge of our key industries, the opportunities are great as we are now fully part of the Mehrwerk family. 2024 has been a pivotal year for us as we have focused on fully transforming our Nordic organization into Mehrwerk, and I am very proud of the hard work of all employees who have completed this with outstanding performance. Mehrwerk is a truly impressive company with great success in a short period of time and is on the Financial Times Europe's list of long-term growth champions. So our future together is very exciting, to say the least."
Since its foundation in 2011, the Mehrwerk Group has established a strong presence in Germany and, together with the Nordic team, has grown to over 600 employees and more than 250 corporate customers. Together they provide services to more than 15 million households in Europe.
Frank Hippen, CEO and founder of the Mehrwerk Group, explains: "With this acquisition, we have started our internationalization and taken a big step towards our vision: to be the leading platform for data-driven value-added marketing in Europe. We will remain true to our East Westphalian roots and keep our headquarters in Bielefeld."
