HitecVision Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, HitecVision has acquired 2 companies.

HitecVision’s most common sectors for investment areenergy services and equipment (36%) and oil/gas exploration (20%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (67%) and growth capital (20%). In total, HitecVision has invested in 1 US state and 7 different countries. Its largest (disclosed) acquisition occurred in 2003 when it acquired Revus Energy ASA for $17M.

In the last 3 years, HitecVision has exited 4 companies. The Firm’s most common exit type is trade sale (50%). HitecVision’s largest (disclosed) exit occurred in 2013 when it sold Troms Offshore Supply AS for $395M.

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M&A Summary

  • M&A Total Activity82
    • M&A Buy Activity56
    • M&A Sell Activity26
  • Total Sectors Invested 12
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 15
  • M&A Advisors 2

HitecVision

Jattavagveien 7 (Building A),,
Stavanger, 4068
Norway
+47 51 20 20 20
www.hitecvision.com
contact@hitecvision.com

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.


Investment Criteria

Sectors of Interest: Business Services, Communications, Energy Services and Equipment, Engineering, Financial Services, Machinery, Manufacturing, Marine, Oil/Gas Exploration, Retail, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Growth Capital, PIPE, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 250
Enterprise Value - 300
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.4/yr) # 54 - - 2 - - 56
vol $17M $17M
Sell (0.8/yr) # 22 - - 2 1 1 26
vol $1.5B $1.5B
  82

Most Recent M&A

Company Date Value Type
Asset Buyout Partners 2021-05-05 - Add-on Acquisition
Oslo, Norway · www.abpre.no
Aarbakke Group AS 2020-09-01 - Add-on Acquisition
Bryne, Norway · www.aarbakke.com
Energy Drilling Management Pte Ltd. 2019-07-15 - Add-on Acquisition
Singapore, Singapore · www.edrill.com
CapeOmega AS 2019-04-23 - Secondary Buyout
Bergen, Norway · www.capeomega.com
Sval Energi AS 2019-04-01 - Buyout (LBO, MBO, MBI)
Stavanger, Norway · www.sval-energi.no
Solveig Gas Norway AS 2019-01-01 - Secondary Buyout
Stavanger, Norway
Underwater Integrity Solutions, Inc. 2015-03-25 - Buyout (LBO, MBO, MBI)
Houston, Texas · www.underwaterintegrity.com
Asset Buyout Partners 2015-01-01 - Buyout (LBO, MBO, MBI)
Oslo, Norway · www.abpre.no
Merrick Systems, Inc. 2014-12-01 - Add-on Acquisition
Houston, Texas · www.merricksystems.com
Rocksource ASA 2014-10-21 - PIPE
Bergen, Norway · www.rocksource.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Solveig Gas Norway AS 2019-01-01 Wintershall Dea GmbH - Polarled pipeline 2019-10-01 1
Stavanger, Norway , Norway
Spike Exploration AS 2012-06-11 BRIDGE Energy Group, Inc. 2019-06-03 1
Stavanger, Norway · www.spike-x.com Marlborough, Massachusetts · www.bridgeenergygroup.com
Circle Group AS 2014-01-01 Wellpartner, Inc. 2015-06-03 1
Stavanger, Norway · www.circlegroup.no Portland, Oregon · www.wellpartner.com
Agility Group AS 2009-01-01 Agility Projects AS 2014-07-14 1
Sandefjord, Norway · www.agilitygroup.no Sandefjord, Norway

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 8 (31%) - 20 (36%) -
Oil/Gas Exploration 6 (23%) - 11 (20%) 17M (100%)
Marine 4 (15%) - 5 (9%) -
Engineering 2 (8%) - 4 (7%) -
Software 1 (4%) - 4 (7%) -
Business Services 2 (8%) - 3 (5%) -
Machinery 1 (4%) - 3 (5%) -
Communications - - 2 (4%) -
Financial Services 1 (4%) - 1 (2%) -
Manufacturing 1 (4%) - 1 (2%) -
Real Estate - - 1 (2%) -
Test/Measurement Equipment - - 1 (2%) -
Total 26 - 56 $17M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Norway 18 (69%) - 39 (70%) 17M (100%)
United States 3 (12%) - 7 (13%) -
  Texas 3 (12%) - 7 (13%) -
United Kingdom 2 (8%) - 5 (9%) -
Singapore 1 (4%) - 2 (4%) -
Ireland 1 (4%) - 1 (2%) -
Netherlands 1 (4%) - 1 (2%) -
France - - 1 (2%) -
Domestic 18 (69%) - 39 (70%) 17M (100%)
Cross-border 8 (31%) - 17 (30%) -
Total 26 - 56 $17M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 18 (69%) - 37 (66%) 17M (100%)
Growth Capital 6 (23%) - 11 (20%) -
PIPE - - 2 (4%) -
Secondary Buyout 1 (4%) - 2 (4%) -
Consolidation - - 1 (2%) -
Going Private - - 1 (2%) -
Stake Purchase 1 (4%) - 1 (2%) -
Venture - - 1 (2%) -
Total 26 - 56 $17M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 7 (27%) 1.3B (88%)
Secondary Sale 6 (23%) 181M (12%)
Trade Sale 6 (23%) -
IPO 4 (15%) -
Merger 1 (4%) -
Shut Down 1 (4%) -
Sold to Existing Investors 1 (4%) -
Total 26 $1.5B

Top M&A Advisors

Financial Deals
C.W. Downer & Co.
1
Legal Deals
Freshfields Bruckhaus Deringer LLP
1

Deal Values

buy # Total
< $100M 1 $17M
TOTAL $17M
Largest Revus Energy ASA
$17M (2003-02-01)
sell # Total
$100M to $1B 5 $1.5B
TOTAL $1.5B
Largest Troms Offshore Supply AS
$395M (2013-05-14)

M&A Connections

Deals
Acquired from
Investor(s)
4%
2 (4%)
Exited to
Investor(s)
23%
6 (23%)
Strategic(s)
50%
13 (50%)

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