HitecVision Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, HitecVision has acquired 1 company.

HitecVision’s most common sectors for investment areenergy services and equipment (37%) and oil/gas exploration (19%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (63%) and growth capital (19%). In total, HitecVision has invested in 1 US state and 7 different countries. Its largest (disclosed) acquisition occurred in 2003 when it acquired Revus Energy ASA for $17M.

The Firm’s most common exit type is trade sale (52%). HitecVision’s largest (disclosed) exit occurred in 2013 when it sold Troms Offshore Supply AS for $395M.

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M&A Summary

  • M&A Total Activity87
    • M&A Buy Activity58
    • M&A Sell Activity29
  • Total Sectors Invested 14
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 19
  • M&A Advisors 2

HitecVision

Jattavagveien 7 (Building A),,
Stavanger, 4068
Norway
+47 51 20 20 20
www.hitecvision.com
contact@hitecvision.com

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.


Investment Criteria

Sectors of Interest: Business Services, Communications, Energy Services and Equipment, Engineering, Financial Services, Machinery, Manufacturing, Marine, Oil/Gas Exploration, Retail, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Growth Capital, PIPE, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 250
Enterprise Value - 300
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.2/yr) # 57 - 1 - - - 58
vol $17M $17M
Sell (0.6/yr) # 26 3 - - - - 29
vol $1.5B $1.5B
  87

Most Recent M&A

Company Date Value Type
Hafslund Oslo Celsio AS 2022-05-20 - Buyout (LBO, MBO, MBI)
Oslo, Norway · www.celsio.no
Vryhof 2021-05-24 - Add-on Acquisition
Schiedam, Netherlands · www.delmarvryhof.com
Deep Sea Mooring AS 2021-05-24 - Add-on Acquisition
Tananger, Norway · www.deepseamooring.com
Asset Buyout Partners 2021-05-05 - Add-on Acquisition
Oslo, Norway · www.abpre.no
Aarbakke Group AS 2020-09-01 - Add-on Acquisition
Bryne, Norway · www.aarbakke.com
Moreld 2020-01-01 - Growth Capital
Stavanger, Norway · www.moreld.com
Vargronn 2020-01-01 - Joint Venture
Stavanger, Norway · www.vargronn.no
Verus Petroleum 2019-10-03 - Merger
Aberdeen, United Kingdom · www.veruspetroleum.com
Energy Drilling Management Pte Ltd. 2019-07-15 - Add-on Acquisition
Singapore, Singapore · www.edrill.com
CapeOmega AS 2019-04-23 - Secondary Buyout
Bergen, Norway · www.capeomega.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Circle Group AS 2014-01-01 Wellpartner, Inc. 2015-06-03 2
Stavanger, Norway Portland, Oregon · www.wellpartner.com

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 2 (29%) - 21 (36%) -
Oil/Gas Exploration - - 11 (19%) 17M (100%)
Marine 1 (14%) - 5 (9%) -
Engineering - - 4 (7%) -
Software - - 4 (7%) -
Machinery - - 3 (5%) -
Business Services 1 (14%) - 2 (3%) -
Communications - - 2 (3%) -
Financial Services 1 (14%) - 1 (2%) -
Manufacturing - - 1 (2%) -
Real Estate - - 1 (2%) -
Renewable Energy 1 (14%) - 1 (2%) -
Test/Measurement Equipment - - 1 (2%) -
Utilities 1 (14%) - 1 (2%) -
Total 7 - 58 $17M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Norway 6 (86%) - 41 (71%) 17M (100%)
United States - - 7 (12%) -
  Texas - - 7 (12%) -
United Kingdom - - 5 (9%) -
Singapore 1 (14%) - 2 (3%) -
France - - 1 (2%) -
Ireland - - 1 (2%) -
Netherlands - - 1 (2%) -
Domestic 6 (86%) - 41 (71%) 17M (100%)
Cross-border 1 (14%) - 17 (29%) -
Total 7 - 58 $17M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 2 (29%) - 36 (62%) 17M (100%)
Growth Capital 2 (29%) - 11 (19%) -
Consolidation 1 (14%) - 2 (3%) -
PIPE - - 2 (3%) -
Secondary Buyout - - 2 (3%) -
Add-on Acquisition 1 (14%) - 1 (2%) -
Going Private - - 1 (2%) -
Joint Venture 1 (14%) - 1 (2%) -
Stake Purchase - - 1 (2%) -
Venture - - 1 (2%) -
Total 7 - 58 $17M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 8 (28%) 1.3B (88%)
Trade Sale 7 (24%) -
Secondary Sale 6 (21%) 181M (12%)
IPO 4 (14%) -
Merger 2 (7%) -
Shut Down 1 (3%) -
Sold to Existing Investors 1 (3%) -
Total 29 $1.5B

Top M&A Advisors

Financial Deals
C.W. Downer & Co.
1
Legal Deals
Freshfields Bruckhaus Deringer LLP
1

Deal Values

buy # Total
< $100M 1 $17M
TOTAL $17M
Largest Revus Energy ASA
$17M (2003-02-01)
sell # Total
$100M to $1B 5 $1.5B
TOTAL $1.5B
Largest Troms Offshore Supply AS
$395M (2013-05-14)

M&A Connections

Deals
Acquired from
Investor(s)
5%
3 (5%)
Exited to
Investor(s)
21%
6 (21%)
Strategic(s)
55%
16 (55%)

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