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Ownership

NOAH AS is 100 % owned by Gjelsten Holding AS. Entrepreneurial spirit, focus and persistence are values that constitute the basis for Gjelsten Holding AS.

Gjelsten Holding generates value through active ownership, and provides its companies with expertise and capital. Gjelsten Holding AS requires dedicated, target-driven and decisive employees. The company is a niche player in real estate, commerce and industry.

The company

Fabritius (100%) develops and manages combined buildings (warehouses / offices) in Greater Oslo and other Norwegian cities. Fabritius also owns Profier (80%,) which is a nationwide property developer in residential, retail and office properties. Gjelsten Holding has also invested in real estate in More and  Romsdal through Angvik Investor AS (10%).

In autumn 2006, Gjelsten Holding introduced plans for a major environmental clean-up and property  development on Lierstranda in the Lier municipality. This is being achieved through the companies Miljøstein AS (50%) and Miljøstein Shipping AS (50%).

NOAH (100%) is the leading environmental company in the handling of inorganic hazardous waste, which is neutralized and treated at Langøya outside Holmestrand.

The Group’s trading company comprises the Sport 1 Group (80%). Sport 1 is Norway’s second largest sports retail chain with approximately 200 stores spread across the country. Sport 1 Group is also the owner of sports fashion chain Xon Sports and the cinema and leisure chain Scandinavian Høyfjellsutstyr.

Since the establishment of Gjelsten Holding in 2000, the company has enjoyed a rapid development period. During thsi time the company has enjoyed strong profit growth and a solid financial platform, which positions the company for further growth and development. Substantial value has been generated since its inception in 2000.

The Gjelsten family

The company logo, containing an eagle and a lily, is inspired by the family arms from Bergen in the 1500s. The family dates back to the Gjelsten farms and Nakken north-east of Alesund.

The family history is steeped in trade and economic development. In the 1600s one of Gjelsten’s ancestors, Magdalene Tørresdotter, was one of the few accounting literate women in Norway. The business that she and eventually her sons ran, consisted both of shipping, timber trade and the fish trade.

From 1871 trade company P. A. Gjelsten ran a substantial business in the trading and shipping from Fiksdal, which until World War I was one of the largest trading centres between Trondheim and Bergen.