M&A Deal Summary

Moreld Acquires Havfram

On June 7, 2024, Moreld acquired marine company Havfram from HitecVision

Acquisition Highlights
  • This is Moreld’s 1st transaction in the Marine sector.
  • This is Moreld’s 1st transaction in Norway.

M&A Deal Summary
Date 2024-06-07
Target Havfram
Sector Marine
Buyer(s) Moreld
Sellers(s) HitecVision
Deal Type Add-on Acquisition

Target

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.

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Buyer(S) 1

Buyer

Moreld

Stavanger, Norway
Category Company
Founded 2020
Sector Energy Services and Equipment
DESCRIPTION

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.

DEAL STATS #
Overall 1 of 1
Sector (Marine) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Norway) 1 of 1
Year (2024) 1 of 1

Seller(S) 1

SELLER

HitecVision

Stavanger, Norway

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HitecVision AS 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 $30 to $150 million in companies valued up to $300 million. Specific areas of interest include drilling/down-hole, exploration/production, field development, mid- and downstream, and subsurface. HitecVision AS was formed in 1985 and is based in Stavanger. The Firm has additional offices in Oslo and Texas.

DEAL STATS #
Overall 30 of 30
Sector (Marine) 2 of 2
Type (Add-on Acquisition) 16 of 16
Country (Norway) 22 of 22
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-20 Hafslund Oslo Celsio

Oslo, Norway

Hafslund Oslo Celsio is Norway's district heating provider. Company delivers sustainable district heating and power to commercial and residential properties throughout Oslo, providing heating and hot water to more than 200,000 people. Hafslund Oslo Celsio is based in Oslo, Norway.

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