EV Private Equity Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, EV Private Equity has acquired 2 companies. It has also invested in 9 others.

EV Private Equity’s most common sectors for investment are energy services and equipment (58%) and software (9%). The Firm’s most common investment types include venture (41%) and growth capital (28%). In total, EV Private Equity has invested in 5 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 Activity68
    • M&A Buy Activity47
    • M&A Sell Activity21
  • Total Sectors Invested 11
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 23

EV Private Equity Ltd.

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

Energy Ventures is an independent venture capital firm that manages/advises four venture funds. 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, Oil/Gas Exploration, Software, Technology Hardware

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.2/yr) # 36 - 6 2 2 1 47
vol $11M $11M
Sell (1.0/yr) # 16 1 1 - 1 2 21
vol $455M $455M
  68

Most Recent M&A

Company Date Value Type
Trainor AS 2020-07-23 - Growth Capital
Tønsberg, Norway · www.trainor.no
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
Motive Offshore Group Ltd. 2019-03-29 - Growth Capital
Aberdeenshire, United Kingdom · www.motive-offshore.com
Bluware 2018-08-10 - Venture
Houston, Texas · www.bluware.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
Workover Solutions (WOS) 2017-10-04 - Growth Capital
Imperial, Pennsylvania · www.workoversolutions.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

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 7 (50%) - 27 (57%) -
Software 3 (21%) - 4 (9%) -
Engineering 1 (7%) - 3 (6%) 11M (100%)
Technology Hardware 1 (7%) - 3 (6%) -
Business Services 1 (7%) - 2 (4%) -
Oil/Gas Exploration 1 (7%) - 2 (4%) -
Test/Measurement Equipment - - 2 (4%) -
Information Technology - - 1 (2%) -
Manufacturing - - 1 (2%) -
Marine - - 1 (2%) -
Renewable Energy - - 1 (2%) -
Total 14 - 47 $11M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 3 (21%) - 17 (36%) -
Norway 5 (36%) - 14 (30%) -
United States 5 (36%) - 13 (28%) -
  Texas 4 (29%) - 9 (19%) -
  Pennsylvania 1 (7%) - 1 (2%) -
  Virginia - - 1 (2%) -
  Utah - - 1 (2%) -
  Massachusetts - - 1 (2%) -
Canada 1 (7%) - 2 (4%) 11M (100%)
  Alberta 1 (7%) - 1 (2%) -
  Newfoundland - - 1 (2%) 11M (100%)
Singapore - - 1 (2%) -
Domestic 5 (36%) - 14 (30%) -
Cross-border 9 (64%) - 33 (70%) 11M (100%)
Total 14 - 47 $11M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 2 (14%) - 19 (40%) 11M (100%)
Growth Capital 7 (50%) - 13 (28%) -
Buyout (LBO, MBO, MBI) 2 (14%) - 11 (23%) -
Secondary Buyout 1 (7%) - 2 (4%) -
Divestiture 1 (7%) - 1 (2%) -
Stake Purchase 1 (7%) - 1 (2%) -
Total 14 - 47 $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)
67%
2 67%
Strategic(s)
33%
1 33%
Exited to
PE Firm(s)
11%
2 11%
Strategic(s)
89%
16 89%

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