EV Private Equity Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, EV Private Equity has invested in 3 companies.

EV Private Equity’s most common sectors for investment are energy services and equipment (57%) and technology hardware (9%). The Firm’s most common investment types include venture (49%) and buyout (lbo, mbo, mbi) (28%). In total, EV Private Equity has invested in 4 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2009 when it acquired PanGeo Subsea for $11M.

In the last 3 years, EV Private Equity has exited 4 companies. The Firm’s most common exit type is trade sale (77%). EV Private Equity’s largest (disclosed) exit occurred in 2007 when it sold MTEM for $275M.

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M&A Summary

  • M&A Total Activity58
    • M&A Buy Activity37
    • M&A Sell Activity21
  • Total Sectors Invested 12
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 21

EV Private Equity Ltd.

Kongsgaardbakken 1,
Stavanger, 4005
Norway
+47 51 84 12 95
www.evprivateequity.no

Energy Ventures is an independent venture capital firm that manages/advises four venture funds with a total committed capital of USD 750 million. Investments range from $5 to $30 million per company, with typical holding of 10-40% of equity. It actively seeks early- to mid-stage investments in technology companies that deliver a marketable, proprietary product or service in the upstream oil and gas sector. Energy Ventures focuses on investments based in the North Sea area or North America with an international orientation. Established in 2002, Energy Ventures is based in Stavanger, Norway with additional offices in Aberdeen, UK and Houston, Texas.


Investment Criteria

Sectors of Interest: Business Services, Energy Services and Equipment, Engineering, Machinery, Manufacturing, Marine, Oil/Gas Exploration, Renewable Energy, Software, Technology Hardware, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 20 40
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.8/yr) # 33 - 2 1 1 - 37
vol $11M $11M
Sell (1.0/yr) # 16 1 1 - 1 2 21
vol $455M $455M
  58

Most Recent M&A

Company Date Value Type
Enpro Subsea 2020-02-21 - Add-on Acquisition
Aberdeen, United Kingdom · www.enpro-subsea.com
HalfWave AS 2020-02-18 - Add-on Acquisition
Hordaland, Norway · www.halfwave.com
Enhanced Well Technologies AS 2019-07-15 - Secondary Buyout
Straume, Norway · www.enhanced-drilling.com
Energy Drilling Management Pte Ltd. 2019-07-15 - Add-on Acquisition
Singapore , Singapore · www.edrill.com
Enpro Subsea 2018-01-23 - Growth Capital
Aberdeen, United Kingdom · www.enpro-subsea.com
Ashmin 2017-10-05 - Growth Capital
Conroe, Texas · www.ashmin.com
Evolution Engineering, Inc. 2017-08-30 - Growth Capital
Calgary, Alberta · www.evolutioneng.com
Ingrain, Inc. 2017-07-01 - Add-on Acquisition
Houston, Texas · www.ingrainrocks.com
Meta Downhole Ltd. 2016-03-24 - Add-on Acquisition
Aberdeen, United Kingdom · www.metadownhole.com
READ Cased Hole Ltd. 2015-06-10 - Secondary Buyout
Aberdeen, United Kingdom · www.readcasedhole.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Enhanced Well Technologies AS 2019-07-15 IKM Cleandrill AS 2019-11-27 2
Straume, Norway · www.enhanced-drilling.com Straume, Norway · www.ikm.com
Enhanced Well Technologies AS 2019-07-15 Energy Drilling Management Pte Ltd. 2019-07-15 1
Straume, Norway · www.enhanced-drilling.com Singapore , Singapore · www.edrill.com
Abrado Wellbore Services 2013-04-02 Deltide Energy Services LLC - Specialty Tool Product Lines 2016-06-22 1
Houston, Texas · www.abrado-intl.com Harvey, Louisiana

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 7 (47%) - 21 (57%) -
Technology Hardware 2 (13%) - 3 (8%) -
Engineering 1 (7%) - 2 (5%) 11M (100%)
Oil/Gas Exploration 2 (13%) - 2 (5%) -
Test/Measurement Equipment - - 2 (5%) -
Business Services - - 1 (3%) -
Environmental 1 (7%) - 1 (3%) -
Information Technology - - 1 (3%) -
Manufacturing 1 (7%) - 1 (3%) -
Marine - - 1 (3%) -
Renewable Energy 1 (7%) - 1 (3%) -
Software - - 1 (3%) -
Total 15 - 37 $11M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 5 (33%) - 14 (38%) -
United States 6 (40%) - 10 (27%) -
  Texas 5 (33%) - 7 (19%) -
  Massachusetts 1 (7%) - 1 (3%) -
  Virginia - - 1 (3%) -
  Utah - - 1 (3%) -
Norway 3 (20%) - 10 (27%) -
Canada 1 (7%) - 2 (5%) 11M (100%)
  Alberta 1 (7%) - 1 (3%) -
  Newfoundland - - 1 (3%) 11M (100%)
Singapore - - 1 (3%) -
Domestic 3 (20%) - 10 (27%) -
Cross-border 12 (80%) - 27 (73%) 11M (100%)
Total 15 - 37 $11M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 7 (47%) - 18 (49%) 11M (100%)
Buyout (LBO, MBO, MBI) 4 (27%) - 10 (27%) -
Growth Capital 3 (20%) - 7 (19%) -
Secondary Buyout 1 (7%) - 2 (5%) -
Total 15 - 37 $11M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 12 (57%) 455M (100%)
Trade Sale 4 (19%) -
Secondary Sale 2 (10%) -
Unknown 2 (10%) -
IPO 1 (5%) -
Total 21 $455M

Deal Values

buy # Total
< $100M 1 $11M
TOTAL $11M
Largest PanGeo Subsea, Inc.
$11M (2009-08-03)
sell # Total
$100M to $1B 2 $395M
< $100M 1 $60M
TOTAL $455M
Largest MTEM Ltd.
$275M (2007-06-20)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
2 100%
Exited to
PE Firm(s)
11%
2 11%
Strategic(s)
89%
16 89%

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