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Investment Summary

HitecVision Invests In Bjørge ASA

On November 10, 2009, private equity firm HitecVision invested in engineering company Bjørge ASA

Investment Highlights
  • This is HitecVision’s 2nd transaction in the Engineering sector.
  • This is HitecVision’s 19th transaction in Norway.
Investment Fate
  • Bjørge ASA was sold to a financial buyer in 2011.

Investment Summary
Date 2009-11-10
Target Bjørge ASA
Sector Engineering
Investor(s) HitecVision
Deal Type PIPE

Target

Bjørge ASA

Tananger, Norway
Bjørge (OSE: BJORGE) is an onshore and offshore oil and gas and Marine engineering and maintenance company. The company is based in Tananger outside Stavanger, Norway. The company is demerged into two new parent company, Stream and Align.

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Investor(S) 1

Investor

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 27 of 64
Sector: Engineering M&A 2 of 4
Type: PIPE M&A Deals 1 of 2
Country: Norway M&A 19 of 44
Year: 2009 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-22 Reef Subsea UK

Surrey, United Kingdom

Reef Subsea UK Ltd. is a subsea services contractor to the Oil & Gas and Renewable Energy markets. Reef Subsea operates mainly from Northern Europe (UK, Norway), the Americas (Houston), Far East (Singapore) and Asia-Pacific (Perth). Our group of specialized companies offers a wide range of subsea services covering Subsea Construction & IRM, Installation & Trenching of cables & umbilicals, ROV and Survey Services, Seabed Dredging and Controlled Flow Excavation.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Troms Offshore Supply AS

Oslo, Norway

Troms Offshore Supply AS is a supplier of high quality offshore services. Troms Offshore Supply currently own six large modern clean design Platform Supply Vessels (PSV). Troms Offshore Supply AS also has an office in Oslo, where Chief Executive Officer Mårten Lunde, Chief Financial Officer Erik Evjen and Vice President Chartering Leif Tarberg are located.

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