Secondary Buyout • Energy Services and Equipment

McIntyre Partners Acquires Moreld

On August 8, 2024, private equity firm McIntyre Partners acquired energy services and equipment company Moreld from HitecVision

Acquisition Context
  • This is McIntyre Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is McIntyre Partners’ 1st transaction in Norway.

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M&A Deal Summary

Date August 8, 2024
Target Moreld
Sector Energy Services and Equipment
Buyer(s) McIntyre Partners
Sellers(s) HitecVision
Deal Type Secondary Buyout

Target Company

Moreld

Stavanger, Norway
Moreld is an industrial group created through the merger of a number of small and medium-sized companies in HitecVision’s portfolio. As the energy sector prepares for a transition towards a low-carbon future, Moreld will seize opportunities to increase its foothold in sectors such as aquaculture, offshore wind, and other relevant renewable energy sectors, whilst continuing to nurture existing oil service operations. Moreld was founded in 2020 and is based in Stavanger, Norway.
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Buyer Overview 1

DESCRIPTION

McIntyre Partners is an independent investment firm focused on acquiring non-core, mid-market divestitures across the energy, industrial, and infrastructure sectors. Specific areas of interest include oil & gas, refining, power generation, industrial manufacturing, materials, transportation, and small-scale infrastructure assets. McIntyre Partners was founded in 2008 and is based in London.


Deal Context for Buyer #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Secondary Buyout 1 of 1
Country: Norway 1 of 1
Year: 2024 1 of 1

Seller Profile 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 Context for Seller #
Overall 33 of 34
Sector: Energy Services and Equipment 12 of 12
Type: Secondary Buyout 7 of 8
Country: Norway 24 of 25
Year: 2024 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-07 Havfram

Stavanger, Norway

Havfram is a provider of subsea services and hold strong EPCI (Engineering, Procurement, Construction, Installation) expertise within the SURF (Subsea structures, Umbilicals, Risers, Flowlines) segment. Havfram was founded in 2011 and is based in Stavanger, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-03 St1 Biokraft

Stockholm, Sweden

St1 Biokraft is a fully integrated producer and distributor of biogas and biomethane. St1 Biokraft is based in Stockholm, Sweden.

Buy -