Photo back row from left: Johan Martinsen, Christian Leuchars-Martinsen and Richard Martinsen. Front row from left: Pernille Martinsen Westlie, Pål Martinsen and Ane Berg Martinsen
Photo back row from left: Johan Martinsen, Christian Leuchars-Martinsen and Richard Martinsen. Front row from left: Pernille Martinsen Westlie, Pål Martinsen and Ane Berg Martinsen

 

 

Pål Martinsen retains the majority of the votes at the annual meeting for shareholders and a small shareholding and will continue to
govern the company until he turns 67 in January 2024. Pål will continue to be chairman of the group for the time being. After January
2024, Johan Martinsen and Pernille Martinsen Westlie will together have the majority of the votes at the annual meeting for shareholders.

A shareholder agreement has been entered into, which promotes continued long-term ownership in the family.
- I am very happy that this has been resolved in a good way, where everyone has reached a common agreement and all parties involved are
satisfied. The children have taken the initiative and solved this in a good way among themselves. I want to thank all the good colleagues that
I had the privilege of working with during my 40 years at Flexit, says Pål Martinsen.

 

Photo: Pål Martinsen and Knut Skogstad
Photo: Pål Martinsen and Knut Skogstad

 

CEO Knut Skogstad is also very pleased with the solution:
- I want to congratulate Pål and his family for coming to a common solution. It is impressively done to solve this in such a good way within the family. This has also been resolved with a view to the future, where the transition takes place with good continuity and at the same time contributes to creating a long-term perspective and predictability.

- This is very good news for all employees at our workplaces. With this foundation, we now have a good starting point for continuing our strategic investments and goals of continued development and profitable growth, says Skogstad.

- Pål has meant a lot to the development of Flexit during all these years. In October this year, we set a sales record and then had more sales in one month than we did for a whole year in the first year he was the owner in 1994. We have always been profitable and that says it all about what a journey it has been. A good foundation has now been laid to ensure continuity in development, Skogstad concludes.


Facts about the Flexit Group

Flexit Future Holding AS

Owner of the Flexit AS Group, which has the subsidiary Flexit Sverige AB in Töcksfors and is a partner in HeatCo Oy in Finland.
Flexit Future Holding AS also owns the real estate companies Flexit Eiendom and Martinsen Eiendom.
Flexit has 265 employees and expects sales of approximately 635 million NOK by 2020.


History

The company was founded in 1974 by Finn Martinsen and his wife Anne-Mari as Finn Martinsen AS. When Finn Martinsen died in 1994, Pål and his brother
Alf took over the shares in the company. In 2017, Alf transferred his shares to Pål, which then became the sole owner of Flexit.