M&A Deal Summary

Westco Miljø AS Acquires Aarbakke Group AS

On September 1, 2020, Westco Miljø AS acquired energy services and equipment company Aarbakke Group AS from HitecVision

Acquisition Highlights
  • This is Westco Miljø AS’s 1st transaction in the Energy Services and Equipment sector.
  • This is Westco Miljø AS’s 1st transaction in Norway.

M&A Deal Summary
Date 2020-09-01
Target Aarbakke Group AS
Sector Energy Services and Equipment
Buyer(s) Westco Miljø AS
Sellers(s) HitecVision
Deal Type Add-on Acquisition

Target

Aarbakke Group AS

Bryne, Norway
Aarbakke Group AS is a provider of precision manufacturing services to the oil and gas industry, specializing in the manufacture of subsea and downhole equipment to extreme quality standards. Aarbakke Group is based in Bryne, Norway.

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Buyer(S) 1

Buyer

Westco Miljø AS

Sandnes, Norway
Category Company
Sector Environmental
DESCRIPTION

Westco Miljø AS is an environmental company in the management of industrial waste. Westco Miljø is based in Sandnes, Norway.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Norway) 1 of 1
Year (2020) 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 26 of 30
Sector (Energy Services and Equipment) 9 of 10
Type (Add-on Acquisition) 12 of 16
Country (Norway) 19 of 22
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Asset Buyout Partners

Oslo, Norway

Asset Buyout Partners is an independent Norwegian industrial real estate company with real estate assets located in mission-critical energy and maritime clusters along the Norwegian coast. Asset Buyout Partners was founded in 2015 and is based in Oslo, Norway.

Sell -
Mergr

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