M&A Deal Summary

Previan Technologies Acquires HalfWave AS

On February 18, 2020, Previan Technologies acquired test/measurement equipment company HalfWave AS from EV Private Equity

Acquisition Highlights
  • This is Previan Technologies’ 6th transaction in the Test/Measurement Equipment sector.
  • This is Previan Technologies’ 1st transaction in Norway.

M&A Deal Summary

Date 2020-02-18
Target HalfWave AS
Sector Test/Measurement Equipment
Buyer(s) Previan Technologies
Sellers(s) EV Private Equity
Deal Type Add-on Acquisition
Advisor(s) Piper Sandler & Co. (Financial)
Advokatfirmaet Schjødt (Legal)

Target

HalfWave AS

Hordaland, Norway
HalfWave AS provides accurate and reliable inspection data that allows its customers to make informed choices in order to maintain the integrity of critical assets. Halfwave has developed innovative cost-effective inspection tools and services for the energy market. Key to Halfwave’s offering is its patented ultra-wideband acoustic inspection technology (ART), which offers penetration and measurement capabilities significantly exceeding those of existing inspection technologies.

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Buyer(S) 1

Buyer

Previan Technologies

Quebec, Quebec, Canada

Category Company
Founded 2009
Sector Test/Measurement Equipment
DESCRIPTION

Previan Technologies is specialized in the development of equipment and software used to detect cracks, corrosion and other anomalies on different types of structures. Its advanced non-destructive testing (NDT) technologies – meaning no damage is caused to the asset being inspected – are used for the inspection of critical components in industries such as power generation, petrochemicals and aerospace. Previan Technologies was founded in 2009 and is based in Quebec, Quebec.


DEAL STATS #
Overall 8 of 13
Sector: Test/Measurement Equipment M&A 6 of 6
Type: Add-on Acquisition M&A Deals 7 of 11
Country: Norway M&A 1 of 1
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-05 NDT Global

Dublin, United States

NDT Global is a supplier of ultrasonic pipeline inspection and data analysis. Its state-of-the-art inspection fleet provides the entire inline inspection service (ILI) spectrum for onshore and offshore pipelines worldwide. NDT Global was founded in 2000 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Dynamic Risk

Calgary, Alberta, Canada

Dynamic Risk is an operator of innovative solutions for the safe and efficient delivery of energy resources, and the only provider to effectively utilize both qualitative and quantitative risk analysis across the complete energy supply chain. The company partners with operators across the Transmission, Midstream, Upstream, and Gas Utility industries to avoid pipeline failures through complete lifecycle risk management, and enables clients to achieve optimal business, safety, and environmental performance while meeting compliance objectives and achieve a goal of zero incidents. The company provides best-in-class pipeline systems modeling software which proactively identifies threats and consequences, assesses time-to-failure, and analyzes mitigative options, as well as domain expertise for asset risk advisory services to ensure safe, reliable, and efficient operations. Dynamic Risk was founded in 1996 and is based in Calgary, Alberta.

Buy -

Seller(S) 1

SELLER

EV Private Equity

Stavanger, Norway

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 1.0B NOK
Size Small
Type Sector Focused
DESCRIPTION

Energy Ventures is an independent venture capital firm that manages/advises four venture funds. It actively seeks early- to mid-stage investments in technology companies that deliver a marketable, proprietary product or service in the upstream oil and gas sector. Energy Ventures focuses on investments based in the North Sea area or North America with an international orientation. Established in 2002, Energy Ventures is based in Stavanger, Norway with additional offices in Aberdeen, UK, and Houston, Texas.


DEAL STATS #
Overall 21 of 33
Sector: Test/Measurement Equipment M&A 2 of 2
Type: Add-on Acquisition M&A Deals 15 of 24
Country: Norway M&A 9 of 12
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 Energy Drilling

Singapore, Singapore

Energy Drilling is a tender drilling company offering cost-effective solutions to the offshore drilling market. Energy Drilling was founded in 2012 and is based in Singapore.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-21 Enpro Subsea

Aberdeen, United Kingdom

Enpro Subsea is a field-proven intervention system for low-cost hydraulic intervention. Enpro also offers field development consulting and is the leader in OSPAR compliant characterization and removal of cell contents for decommissioning of GBS Structures. Enpro Subsea was established in 2011 and is based in Aberdeen, United Kingdom.

Sell -