M&A Deal Summary

Baker Hughes Acquires Compact Carbon Capture AS

On November 3, 2020, Baker Hughes acquired energy services and equipment company Compact Carbon Capture AS

Acquisition Highlights
  • This is Baker Hughes’ 7th transaction in the Energy Services and Equipment sector.
  • This is Baker Hughes’ 1st transaction in Norway.

M&A Deal Summary
Date 2020-11-03
Target Compact Carbon Capture AS
Sector Energy Services and Equipment
Buyer(s) Baker Hughes
Deal Type Add-on Acquisition
Advisor(s) ABG Sundal Collier (Financial)

Target

Compact Carbon Capture AS

Bergen, Norway
Compact Carbon Capture AS (3C) was founded through the collaboration between Fjell Technology Group AS, Equinor ASA, Prototech AS, and SINTEF. The first patent for the technology was granted in 1999 after which it was tested and developed together with several partners including Fjell Technology Group AS and Equinor AS who respectively at different stages led the management of the technology development program between 2007 and 2017. In 2018, 3C was fully established as a company, during which the IP and know-how from both the Equinor and the Fjell Technology Group management periods were fully transferred to 3C. Currently, 3C runs its technology development with several partners including Equinor, Fjell Technology Group, Sintef, and Prototech, and benefits from Norwegian Government incentives through Climit. Headquartered at Marineholmen in Bergen, Norway, 3C collaborates with R&D partners and industrial partners both nationally and globally.

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Buyer(S) 1

Buyer

Baker Hughes

Houston, Texas, United States
Category Company
Sector Energy Services and Equipment
Employees57,000
Revenue 25.5B USD (2023)
DESCRIPTION

Baker Hughes is a provider of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company operates in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. Baker Hughes is headquartered in Houston, Texas.

DEAL STATS #
Overall 17 of 21
Sector (Energy Services and Equipment) 7 of 8
Type (Add-on Acquisition) 14 of 16
Country (Norway) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-10 Baker Hughes - Surface Pressure Control Flow Business Unit

Houston, Tennessee, United States

Baker Hughe's Surface Pressure Control Flow Business Unit is focused on providing pressure control products and services primarily in the U.S., with operations also in Australia, Papua New Guinea, and Trinidad & Tobago.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-18 ARMS Reliability

Ocean Grove, Australia

ARMS Reliability is a provider of reliability solutions to industrial companies across a wide range of industries including mining, oil and gas, power, manufacturing, and utilities. ARMS Reliability was founded in 1995 and is based in Ocean Grove, Australia.

Buy -
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