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REASONS TO SMILE: Martin Andresen does it brilliantly as a businessman. Photo: Bjørn S. Delebekk, VG
A few years ago, Martin Andresen was coach of Vålerenga and commercial director of Søren Eriksen of the Oslo club. The two friends now earn NOK 150 million from the pallet company Smart Returns, according to Finansavisen.
In 2017, Søren Eriksen got his friend Martin Andresen to buy the pallet company. Three years later, the latter sells its 50 percent to Norvestor and earns NOK 100 million, according to Finansavisen. Eriksen, on the other hand, raises $ 50 million, while retaining a 25 percent ownership stake and continuing as the company’s top manager.
The former head of VIF says he is bound by a confidential agreement with Norvestor and will not comment on the amounts, but is very happy to be able to continue investing with Smart Returns.
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– Platforms are not what ordinary people get up in the morning and think. It puts ash gray on your face just thinking about it. But we entered an underdeveloped industry and we have built a modern product for customers. This is just the beginning, Eriksen enthusiastically tells VG.
FORMER VIF LEADER: Søren Eriksen met with VG at Ullevaal Stadium in 2014 regarding the fact that he had joined the club and turned a large deficit into an account balance. Photography: Espen Sjølingstad Hoen, VG
Inspired by the TV boss 2
Previously, he worked as a leader on TV 2, Nettavisen and Vålerenga Football. Nine years ago, Eriksen started working for the company that was then called Waba.
– Former TV 2 editor Kåre Valebrokk once said a few good words: If you come across an industry that goes unnoticed and where there is a high volume, you need to pull your teeth out. And that is what I did. So I tried to follow the advice I received along the way, says Eriksen.
Finansavisen, who mentioned the case for the first time, describes the business idea as follows: it is about “taking care of pallets that have a new price of 95 crowns and a used price of 55 crowns, to reuse instead of having to pay for get rid of them. “
Eriksen tells VG that he still sees soaring potential in the company. Therefore, he also continues as the maximum responsible and co-owner.
– It is a development that I want to be part of, and then we must have muscles behind, he says about the acquisition.
Still included with Vålerenga
The plan that was implemented in 2017 had been in the “foundry ladle” for several years, according to Eriksen. When Andresen was offered to buy the ticket for NOK 100 million, it is said that he only spent an hour deciding.
He did not respond to VG’s question Wednesday night, but Eriksen confirms the story.
– That’s right. It may seem like a lot has happened in three years, but it actually started eight or nine years ago when I entered the industry here. Then it was a milestone when Martin and I bought the company and decided for ourselves. We have really achieved what we wanted. With just two owners, it can be great speed, and it has been.
He and Andresen live just 150 meters apart on Nesøya. The two still talk a lot about Vålerenga too, he says. As is well known, Andresen joined the football club’s board of directors earlier this year.
– The fiery commitment to Vålerenga and football is still there. I talk about Vålerenga both with Martin and with others at the club, but the exercise we do with Smart Returns now leaves no room to focus on anything else. But the heart is still blue, says Eriksen.
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