HitecVision Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, HitecVision has acquired 1 company.

HitecVision’s most common sectors for investment are energy services and equipment (38%) and oil/gas exploration (19%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (65%) and growth capital (21%). 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 3 companies. The Firm’s most common exit type is trade sale (48%). 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 Activity79
    • M&A Buy Activity54
    • M&A Sell Activity25
  • Total Sectors Invested 11
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 14
  • 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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.2/yr) # 53 - - - 1 - 54
vol $17M $17M
Sell (0.6/yr) # 22 - - - 2 1 25
vol $1.5B $1.5B
  79

Most Recent M&A

Company Date Value Type
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 2019-04-23 - Secondary Buyout
Bergen, Norway · www.capeomega.com
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
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
CapeOmega 2014-10-15 - Buyout (LBO, MBO, MBI)
Bergen, Norway · www.capeomega.com
Flux Group 2014-04-04 - Buyout (LBO, MBO, MBI)
Stavanger, Norway · www.fluxgroup.com
Valco Group AS 2014-03-20 - Secondary Buyout
Ruffec, France · www.snri-valco.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
Flux Group 2014-04-04 Norwegian Piping AS 2014-11-23 1
Stavanger, Norway · www.fluxgroup.com Straume, Norway · www.norwegianpiping.com
Agility Group AS 2009-01-01 Agility Projects AS 2014-07-14 1
Sandefjord, Norway · www.agilitygroup.no Sandefjord, Norway
AXON EP, Inc. (dba AXON Energy Products) 2008-01-01 Doyle's Valves, Inc. 2012-07-09 1
Houston, Texas · www.axonep.com Houston, Texas · www.dvinc.com

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 8 (32%) - 20 (37%) -
Oil/Gas Exploration 5 (20%) - 10 (19%) 17M (100%)
Marine 4 (16%) - 5 (9%) -
Engineering 2 (8%) - 4 (7%) -
Software 1 (4%) - 4 (7%) -
Business Services 2 (8%) - 3 (6%) -
Machinery 1 (4%) - 3 (6%) -
Communications - - 2 (4%) -
Financial Services 1 (4%) - 1 (2%) -
Manufacturing 1 (4%) - 1 (2%) -
Test/Measurement Equipment - - 1 (2%) -
Total 25 - 54 $17M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Norway 17 (68%) - 37 (69%) 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 17 (68%) - 37 (69%) 17M (100%)
Cross-border 8 (32%) - 17 (31%) -
Total 25 - 54 $17M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 17 (68%) - 35 (65%) 17M (100%)
Growth Capital 6 (24%) - 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 25 - 54 $17M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 6 (24%) 1.3B (88%)
Secondary Sale 6 (24%) 181M (12%)
Trade Sale 6 (24%) -
IPO 4 (16%) -
Merger 1 (4%) -
Shut Down 1 (4%) -
Sold to Existing Investors 1 (4%) -
Total 25 $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
PE Firm(s)
100%
2 100%
Exited to
PE Firm(s)
33%
6 33%
Strategic(s)
67%
12 67%

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