Wenaasgruppen has its roots in Wenaas Workwear, which was established in 1931 by Lars Wenaas — grandfather, great-grandfather and great-great-grandfather of the current owners. Production started in the basement of the family residence. His son Sigmund continued the operation together with his wife Lidveig and sons Lars and Nils. Sigmund Wenaas Konfeksningsfabrikk became Norway's leading player in workwear and eventually also a significant player on the European market. The head office and distribution centre in Måndalen was one of Europe's most modern, while production was eventually carried out in other countries.
In 1996, the company was listed on the stock exchange, before it merged with Denmark's largest producer of workwear. Three years after the IPO, the company was acquired by investment company Axcel. Wenaas Workwear remains a leading international supplier of workwear and safety equipment, with its head office and central warehouse in Måndalen.
At the same time, the family company built up an extensive portfolio of hotels. Since the 90s, Wenaasgruppen has bought and built 58 hotels, including iconic buildings such as the Radisson Blu Plaza Hotel in Oslo and the Radisson Collection Royal Hotel in Copenhagen.
In the early 2000s, the Group sold several hotels in Norway and Denmark, while launching a new strategy for future investments, focusing on hotels with more than 200 rooms in central European cities. The strategy was further sharpened, and all the smaller hotels were sold. The ten Russian hotels, including northern Europe's largest hotel Park Inn by Radisson Pribaltiyskaya in St Petersburg, were sold in 2023. Today, the Group owns 18 hotels, with close to 7,800 rooms spread across ten cities in seven countries.
Asset management has also been a central part of the Group's operations, and today accounts for approximately 35 per cent of book values.
Wenaasgruppen has invested in and developed several other business areas, which were subsequently sold at a profit. At most, the group had five ski centres in Norway. The Wenaas Group also built up a significant shipping portfolio with stakes in over 40 ships, mainly in the bulk segment. After the financial crisis, the industry experienced several tough years, and the Group chose to step down and sell out completely in 2024. In the early 2000s, the Group established itself as a major player in the sports and leisure market through the acquisition of several smaller companies. Wenaas Nordic was sold after 11 years of operation in 2017
