M&A Deal Summary

3i Private Equity and HitecVision Acquire Revus Energy ASA

On February 1, 2003, private equity firms 3i Private Equity and HitecVision acquired oil/gas exploration company Revus Energy ASA for 140M NOK

Acquisition Highlights
  • This is 3i Private Equity’s 3rd and HitecVision’s 1st transaction in the Oil/Gas Exploration sector.
  • This is 3i Private Equity’s 61st and HitecVision’s largest (disclosed) transaction.
  • This is 3i Private Equity’s 1st and HitecVision’s 5th transaction in Norway.
Investment Fate
  • Revus Energy ASA went public in 2005.
  • Revus Energy ASA was sold to a strategic buyer in 2008 for 740M USD.

M&A Deal Summary

Date 2003-02-01
Target Revus Energy ASA
Sector Oil/Gas Exploration
Buyer(s) 3i Private Equity
HitecVision
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 140M NOK

Target

Revus Energy ASA

Stavanger, Norway
website
Revus Energy is as an independent Exploration & Production company which focuses solely on the untapped opportunities on the Norwegian continental shelf. The company focuses on reservoir expertise and business development.

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Buyer(S) 2

Buyer

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.


DEAL STATS #
Overall 47 of 247
Sector (Oil/Gas Exploration) 3 of 6
Type (Buyout (LBO, MBO, MBI)) 36 of 116
Country (Norway) 1 of 2
Year (2003) 2 of 9
Size (of disclosed) 61 of 64
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-01 Vetoquinol

Lure, France

Vetoquinol SA is a largest veterinary pharmaceutical company. Vetoquinol was founded in 1933 and is based in Lure, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-16 Computer Parts International

United Kingdom

Computer Parts International Ltd. principal activity is the provision of service parts and related logistics services for mid-range and higher-end computers. It is based in the UK and approximately 70% of its sales are in the UK with the rest mainly in Continental Europe and the USA.

Sell £6M
Buyer

HitecVision

Stavanger, Norway

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1985
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HitecVision AS is a private equity firm specializing in buyouts and growth capital investments in the oil and gas industry. The Firm targets investments in middle-market companies throughout North America (primarily US) and Northern Europe (primarily Norway and the UK). HitecVision seeks companies with growth potential and unique technologies. The Firm looks to invest $30 to $150 million in companies valued up to $300 million. Specific areas of interest include drilling/down-hole, exploration/production, field development, mid- and downstream, and subsurface. HitecVision AS was formed in 1985 and is based in Stavanger. The Firm has additional offices in Oslo and Texas.


DEAL STATS #
Overall 5 of 58
Sector (Oil/Gas Exploration) 1 of 11
Type (Buyout (LBO, MBO, MBI)) 4 of 36
Country (Norway) 5 of 41
Year (2003) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Roxar ASA

Stavanger, Norway

Roxar is an international provider of products and associated services for reservoir management and production optimization. Its primary products and services are multiphase subsea meters and reservoir management software.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 RigNet

Houston, Texas, United States

RigNet, Inc. is a provider of managed communications, networks and collaborative applications dedicated to the oil and gas industry. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing and real-time data services to remote sites in over 30 countries on six continents, effectively spanning the drilling and production industry. RigNet was founded in 2000 and is based in Houston, Texas.

Buy -