M&A Deal Summary

CorrOcean ASA Acquires Roxar ASA

On July 2, 2007, CorrOcean ASA acquired machinery company Roxar ASA from Arcapita for 370M USD

Acquisition Highlights
  • This is CorrOcean ASA’s 1st transaction in the Machinery sector.
  • This is CorrOcean ASA’s largest (disclosed) transaction.
  • This is CorrOcean ASA’s 1st transaction in Norway.
Investment Fate
  • Roxar ASA went public in 2007.
  • Roxar ASA was sold to a strategic buyer in 2008.
  • Roxar ASA was divested to a consortium of strategic buyers in 2009.

M&A Deal Summary
Date 2007-07-02
Target Roxar ASA
Sector Machinery
Buyer(s) CorrOcean ASA
Sellers(s) Arcapita
Deal Type Add-on Acquisition
Deal Value 370M USD

Target

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.

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Buyer(S) 1

Buyer

CorrOcean ASA

Stavanger, Norway
Category Company
Sector Electronics
DESCRIPTION

CorrOcean ASA provides products and solutions for optimizing production and maximizing recovery from oil and gas reservoirs.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Norway) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-31 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 -

Seller(S) 1

SELLER

Arcapita

Manama, Bahrain

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1997
Size Mega
Type Sector Agnostic
DESCRIPTION

Arcapita is a private investment firm with separate investment disciplines spanning venture capital, corporate investment, real estate, and asset-based investments. Arcapita's Corporate Investment practice looks to acquire controlling interests in established companies valued between $50 million and $500 million. Sectors of interest include consumer products/services, healthcare, energy, technology, and manufacturing. Arcapita's infrastructure team looks to invest $50 to $300 million in energy, water, and transportation assets. The Firm will consider opportunities around the globe; including the United States, Latin America, Russia, China, Europe, Middle-East, and India. Arcapita was formed 1997 and has offices in Manama, Bahrain; Atlanta, Georgia; London; and Singapore.

DEAL STATS #
Overall 5 of 33
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 4 of 16
Country (Norway) 1 of 1
Year (2007) 1 of 4
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-16 Arcapita GCC Utilities Development

Saudi Arabia

Arcapita has entered into an agreement with Dalkia to build a GCC portfolio of utility projects, principally district cooling and related utilities, with a country focus on Saudi Arabia, Bahrain, Kuwait, and Qatar.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-16 profine

Berlin, Germany

profine is a developer, manufacturer, and marketer of PVC frames for windows and doors. The Company also produces vinyl sheets as well as shutter systems. profine was founded in 2003 and is based in Berlin, Germany.

Buy -
Mergr

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