M&A Deal Summary

GE Oil & Gas Acquires Naxys AS

On August 10, 2012, GE Oil & Gas acquired test/measurement equipment company Naxys AS from HitecVision

Acquisition Highlights
  • This is GE Oil & Gas’ 1st transaction in the Test/Measurement Equipment sector.
  • This is GE Oil & Gas’ 1st transaction in Norway.

M&A Deal Summary

Date 2012-08-10
Target Naxys AS
Sector Test/Measurement Equipment
Buyer(s) GE Oil & Gas
Sellers(s) HitecVision
Deal Type Add-on Acquisition

Target

Naxys AS

Bergen, Norway
Naxys AS is a developer and provider of leak detection and condition monitoring systems for subsea installations. Naxys was formed in 1999 and is based in Bergen, Norway.

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Buyer(S) 1

Buyer

GE Oil & Gas

Houston, Texas, United States

Category Company
Sector Energy Services and Equipment
DESCRIPTION
Entrance to GE Oil & Gas' corporate headquarters in Houston, Texas.
Entrance to GE Oil & Gas' corporate headquarters in Houston, Texas.

GE Oil and Gas specializes in turbomachinery technology, which is used in mechanical-drive, compression and power-generation applications in the hydrocarbons industry. GE Oil & Gas serves customers all over the world. GE Oil & Gas is based in Houston, Texas.


DEAL STATS #
Overall 3 of 6
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 4
Country: Norway M&A 1 of 2
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-14 Well Support Division - John Wood Group

United Kingdom

Wood Group's Well Support division is comprised of three business platforms: ESP (electric submersible pumps), Pressure Control (surface wellhead and flow control systems) and Logging Services (wireline logging).

Buy $2.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-13 Allen Gears

Pershore, United Kingdom

Allen Gears manufacturers and services gears for the power generation, oil and gas, hydroelectric, marine and nuclear energy sectors. It specializes in production of epicyclic gears, which are used in industrial and marine applications.

Buy -

Seller(S) 1

SELLER

HitecVision

Stavanger, Norway

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 8.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

HitecVision 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 €150 to €500 million in companies. Specific areas of interest include drilling/down-hole, exploration/production, field development, mid- and downstream, and subsurface. HitecVision was formed in 1985 and is based in Stavanger. The Firm has additional offices in Oslo and Texas.


DEAL STATS #
Overall 15 of 34
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 17
Country: Norway M&A 11 of 25
Year: 2012 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-18 Global Maritime

Stavanger, Norway

Global Maritime is an independent service provider of offshore and maritime engineering, marine warranty, dynamic positioning, marine quality assurance, vessel inspection, mooring and anchors, and offloading, transportation and installation of offshore structures. Global Maritime was founded in 1987 and is based in Stavanger, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-11 Axis Offshore

Singapore, Singapore

Axis Offshore is a provider of high specification offshore Accommodation & Support Vessels (floatels) servicing the offshore oil & gas industry. Axis Offshore is based in Singapore.

Buy -