Divestiture • Energy Services and Equipment

Oceaneering Acquires AGR Field Operations

On November 22, 2011, Oceaneering acquired energy services and equipment company AGR Field Operations from AGR Group AS for 240M USD

Acquisition Context
  • This is Oceaneering’s 5th transaction in the Energy Services and Equipment sector.
  • This is Oceaneering’s largest (disclosed) transaction.
  • This is Oceaneering’s 5th transaction in Norway.

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M&A Deal Summary

Date November 22, 2011
Target AGR Field Operations
Sector Energy Services and Equipment
Buyer(s) Oceaneering
Sellers(s) AGR Group AS
Deal Type Divestiture
Deal Value 240M USD

Target Company

AGR Field Operations

Straume, Norway
AGR FO is a provider of inspection, maintenance, subsea engineering, and field operations services, principally to the oil and gas industry.
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Buyer Overview 1

Buyer

Oceaneering

Houston, Texas, United States

Category Company
Founded 1964
Sector Energy Services and Equipment
Employees10,100
Revenue 2.7B USD (2024)
DESCRIPTION
Oceaneering International's corporate headquarters in Houston, Texas.
Oceaneering International's corporate headquarters in Houston, Texas.

Oceaneering provides engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, the company also serves the defense, entertainment, and aerospace industries. Oceaneering International was formed in 1964 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 11 of 17
Sector: Energy Services and Equipment 5 of 8
Type: Divestiture 4 of 4
Country: Norway 5 of 5
Year: 2011 2 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-07 Norse Cutting & Abandoment AS

Tananger, Norway

Norse Cutting & Abandonment AS is an oilfield technology company that specializes in providing subsea tooling services used in the plugging, abandonment, and decommissioning of offshore oil and gas production platforms and subsea wellheads.

Buy $60M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-02 AIRSIS

San Diego, California, United States

AIRSIS Inc. is a provider of remote asset management software services. AIRSIS’ signature service, PortVision, provides web-based location reporting on commercial vessels.

Buy -

Seller Profile 1

SELLER

AGR Group AS

Straume, Norway

Category Company
Sector Energy Services and Equipment
Employees1,500
Revenue 237M EUR (2012)
DESCRIPTION

AGR Group (“AGR”) is a leading provider of oilfield services within well and reservoir management, enhanced drilling solutions and integrity and maintenance management.


Deal Context for Seller #
Overall 1 of 3
Sector: Energy Services and Equipment 1 of 1
Type: Divestiture 1 of 3
Country: Norway 1 of 3
Year: 2011 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-06 Enhanced Well Technologies

Straume, Norway

Enhanced Well Technologies is a supplier of specialized drilling technology to the global oil and gas industry. Enhanced Well Technologies is based in Straume, Norway.

Sell -