M&A Deal Summary

Interwell Acquires PTC

On April 21, 2022, Interwell acquired oil/gas exploration company PTC from Herkules Capital

Acquisition Highlights
  • This is Interwell’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Interwell’s 1st transaction in Norway.

M&A Deal Summary

Date 2022-04-21
Target PTC
Sector Oil/Gas Exploration
Buyer(s) Interwell
Sellers(s) Herkules Capital
Deal Type Add-on Acquisition

Target

PTC

Stavanger, Norway
PTC is a developer and supplier of premium gas lift and wellhead products to enhance well integrity, safety, reliability, and productivity for oil companies. PTC was founded in 2002 and is based in Stavanger, Norway.

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Buyer(S) 1

Buyer

Interwell

Hafrsfjord, Norway

Category Company
Founded 1992
Sector Oil/Gas Exploration
Revenue 811M NOK (2017)
DESCRIPTION

Interwell is a provider of high-technology solutions for the international oil and gas industry, offering innovative high-tech plug-and-packer solutions for downhole applications. Interwell was formed in 1992 and is based in Hafrsfjord, Norway.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Norway M&A 1 of 1
Year: 2022 M&A 1 of 1

Seller(S) 1

SELLER

Herkules Capital

Oslo, Norway

Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 15.1B NOK
Size Large
Type Sector Agnostic
DESCRIPTION

Herkules Capital is a private equity firm focused on acquiring controlling interests in established companies located in Norway and other Nordic countries. Herkules looks to commit NOK 100 to NOK 1200 million of equity capital per transaction and will consider investing in public and private companies. Sectors of interest include oil services, healthcare, consumer, trade/retail, services and telecom. The Firm's investment horizon is typically five to seven years. Herkules was formerly known as Fer Private Equity. The Firm is based in Lysaker, Norway.


DEAL STATS #
Overall 32 of 34
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 14 of 14
Country: Norway M&A 27 of 28
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 PSW

Mongstad, Norway

PSW is a maintenance and service provider to the Norwegian subsea and drilling industry. The company offers both offshore and onshore services, and its services include maintenance and engineering services related to subsea, topside, and drilling equipment. PSW was formed in 2007 and is based in Mongstad, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-18 Odlo

Hunenberg, Switzerland

Odlo is a designer, manufacturer, and distributor of functional sports clothing. Odlo's functional sportswear product offering includes sports underwear, tec shirts, and third layer sportswear for running, Nordic walking, general outdoor activities, and cross country. Odlo's highly sophisticated layering system ensures optimal transport of moisture, climate regulation, and protection to ensure an optimal feel in sports. Odlo was founded in 1946 and is based in Hunenberg, Switzerland.

Sell -