HitecVision is a leading investor in the international oil and gas industry, providing capital andcompetence to growth companies in Europe and North America. The firm’s background from the industry enables it to create value by partnering with entrepreneurial managers to build substantial and sustainable companies. HitecVision is a serial entrepreneur having acquired, invested in or established more than 150 companies (including add-ons) and exited over 100 since 1994. HitecVision is headquartered in Stavanger, Norway and has offices in Oslo and Houston.

Lars Christian Bacher

Senior Partner


Benjamin Balteskard



Sunniva L. Bjørnstad



Mariann Bærheim



Pål A. Dahlberg

Chief Sustainability Officer


Oddvar Dirdal

Director Mid-Office


Petter Tandstad Ege

Investment Director


Atle Eide

Senior Partner


Erlend Basmo Ellingsen

Senior Partner


Kjell-Erik Endresen

Senior Partner


Ole Ertvaag

Founding Partner and CEO


Tor Espedal

Senior Partner


Kaia Gaarud



Einar Gjelsvik

Senior Partner


Ove Gusevik

Senior Partner


Gunnar Halvorsen

Senior Partner


Simen Helland

Senior Associate


Nikolay Iankov

Partner Credit


Ove Martin Juul

Director Mid-Office


Ronny Karlsen

Investment Director


John Knight

Senior Partner


Birgitte Kolstad

Investment Director


Christian Bø Kronstad



Ann-Mari Lillejord



Liv Marit Lundby



Dag Thomas Michalsen

Partner Credit and Head of Credit


Silje Nilsskog



Pål Reiulf Olsen

Senior Partner


Pål Reed

Senior Partner and Deputy CEO


Michael Robberstad

Investment Director


Louise Samuelsson



Jone Skaara

Senior Partner


Jan Harald Solstad

Senior Partner


Johan Sonander

Partner Credit


Maren Stangeland

Senior Associate


Egil Stokka

Senior Partner and Legal Director

Ola Sætre

Founding Partner


Alf C. Thorkildsen

Senior Partner


Arne Trondsen

Head of Business Development


Nils Petter Ueland

Director Mid-Office and Finance


Jon Vatnaland

Senior Partner


Benjamin Vidnes



Kurt Waldeland


Bertel Ånestad


40 past transactions

Aquamarine Subsea

Acquisition in 2014
Aquamarine Subsea is an international service company providing asset integrity, management, and life cycle service solutions to riser and subsea equipment owners in the drilling, work-over and production markets.

Suretank Group

Acquisition in 2013
Suretank is an engineering solutions provider and offers: - bespoke Containerized Modular solutions for the Industrial, IT & Data Centre industries; - bespoke engineered solutions for the Processing Industry i.e. Agri-Food, Industrial, Bio-Pharma & Pharmaceutical industries; - design/manufacture of DNV 2.7-1/2/3 certified products for Oil & Gas industry.

Verus Petroleum

Private Equity Round in 2013
Verus Petroleum is an independent UK oil and gas company. It is a production and development company focused on the UKCS with a strong commercial, operational and technical track record and ambitious growth plans in the region.

Emtunga Solutions AB

Acquisition in 2009
Emtunga Solutions AB is a supplier of advanced steel modular facilities to the Oil & Gas industry.

Noble Denton

Acquisition in 2006
Noble Denton is an independent, market-leading firm of consultants offering an integrated range of marine and engineering consultancy.

Tampnet AS

Acquisition in 2010
Tampnet AS owns and operates an offshore communication network in the North Sea and the Gulf of Mexico. The company offers fiber optics; offshore 4G LTE; and international carriers. It serves oil and gas platforms, floating production storage and offloading units, and exploration rigs. The company was founded in 2001 and is based in Stavanger, Norway. It has locations in Aberdeen, United Kingdom; Katy, Texas; Scott, Louisiana; Hoofddorp, the Netherlands; Crows Nest, Australia; and Rio de Janeiro, Brazil.

Ross Offshore

Acquisition in 2008
Ross Offshore offers project management and consultancy to the upstream oil and gas industry. It also offers seasoned personnel with up-to-date technical skills and in-depth knowledge in their fields.

Stream AS

Private Equity Round in 2009
Stream AS, together with its subsidiaries, supplies various products, solutions, and services in the field of valves, piping, electrical, and instrumentation for the oil and gas industries in Norway and Germany. The company supplies pneumatic and hydraulic systems, control units, valves, tube and pipe fittings, pipes, flanges, courses, mechanical connections, and spring suspension products; and provides instrumentation and monitoring, repair and maintenance, injection and sampling, and inspection services. It also offers materials, instruments, and equipment for chemical, petrochemical, pharmaceutical, and power industry. The company is headquartered in Tananger, Norway. Stream AS operates as a subsidiary of Bokn Invest AS.

Apply Sørco

Acquisition in 2007
Apply Sørco is a multidiscipline engineering company providing services to the oil and gas industry. It supplies studies, engineering and project management services within the Maintenance & Modification area, Operation support, and EPCI projects. Apply Sørco specializes in contracts across all project phases, from concept development and studies to completion and commissioning focusing its activities on upgrading the performance of oil and gas facilities in operation offshore and onshore. Apply Sørco was founded in 1979.

Poseidon Group AS

Private Equity Round in 2007
Poseidon Group AS provides marinization, engineering, and technical consulting solutions for the oil and gas industry.

Oyster Petroleum Ltd

Acquisition in 2013
Oyster Petroleum Limited is an oil and gas exploration and production company that focuses on the United Kingdom North Sea. The company was founded in 2013 and is based in Horsham, United Kingdom. As of October 28, 2016, Oyster Petroleum Limited operates as a subsidiary of Independent Oil & Gas Plc.

Wellpartner, Inc.

Acquisition in 2014
Wellpartner is a nationally recognized provider of pharmacy distribution solutions for health plans, Medicaid programs, and safety net organizations throughout the country. Dedicated to lowering the cost of medications, we offer innovative approaches that improve pharmacy care for individuals through the use of retail contract pharmacy services. We are the largest independent provider of contract pharmacy program services in the nation.


Series B in 2004
RigNet, Inc. provides remote communications services for the oil and gas industry in North America and internationally. It offers remote communications services through a controlled and managed Internet protocol/multiprotocol label switching (IP/MPLS) global network, enabling drilling contractors, oil companies, and oilfield service companies to communicate. The company offers a communications package of voice, video, networking, and real-time data management to offshore and land-based remote locations. It primarily provides voice-over-Internet-protocol, data, and high-speed Internet access and other value-added services, such as real-time data management solutions, WiFi hotspots and Internet kiosks, video conferencing solutions, wireless intercoms, handheld radios, and telemedicine. The company also offers Secure Oil Information Link, a managed members-only communications network hub that enables collaborative partners, suppliers, and customers to transfer and share data. It serves the owners and operators of offshore drilling rigs and production facilities, land rigs, remote offices, and supply bases in approximately 30 countries, including the United States, Mexico, Qatar, Saudi Arabia, Singapore, and Australia. The company was founded in 2000 and is headquartered in Houston, Texas.


Private Equity Round in 2012
MOMEK Group offers construction and engineering services. The company operates in three divisions: manufacturing, maintenance and modification, and civil divisions. It offers engineering, project management, inspection, documentation, robot welding, machining, stainless steel fabrication, and prefabrication services.

Technor ASA

Acquisition in 2006
Technor ASA is a privately held company that provides industrial machinery.


Acquisition in 2007
Leirvik is an engineering, procurement, and construction contractor of aluminium offshore living quarters to oil companies. The company delivers EPC products based on the standardized project execution model and components in which it includes client specifications as well as regional regulations. The company develops lasting values for customers and the society by designing, manufacturing, and keeping updated living quarters, helidecks and accessories with short lead time and predictable quality and cost. Leirvik was founded on 1946 and is based in Stord, Norway.

Reef Subsea

Acquisition in 2014
Reef Subsea is a privately held company that provides specialist subsea services to offshore oil and gas and telecommunication industries.


Private Equity Round in 2014
DeepWell is a well intervention company primarily providing wireline services to oil companies. The company is headquartered in and has its operational base outside of Haugesund, Norway.

Hitec Products Drilling

Acquisition in 2008
HPD is an independent market provider of advanced engineering services, software solutions and integration systems to the drilling and well industry world wide.

Atlantica Tender Drilling Ltd.

Acquisition in 2011
Atlantica Tender Drilling Ltd. provides management and contract drilling services for oil and gas wells for the offshore tender assist market and offshore oilfield services worldwide. The company was formerly known as BassDrill Ltd. and changed its name to Atlantica Tender Drilling Ltd. in July 2013. Atlantica Tender Drilling Ltd. was founded in 2007 and is headquartered in Houston, Texas.

Offshore Merchant Partners

Private Equity Round in 2013
Offshore Merchant Partners is an independent specialty finance company providing financing solutions to the global oil & gas related offshore asset markets.

AXON Energy Products

Acquisition in 2008
AXON Energy Products is an oil and energy company that offers pressure, well control, and flow control products. The company's goal is to deliver the products and services that are needed in a reliable, responsive, and professional manner. It provides the expertise and responsive delivery demanded in this industry. The team is a group of well-established and seasoned industry veterans who are committed to clients and partners. AXON Energy Products was founded on 2009 and is based in Houston, Texas.

Agility Group AS

Acquisition in 2009
AgilityGroup is a full-service engineering, procurement and construction company situated in 13 different locations in Norway.

Deep Sea Mooring AS

Acquisition in 2013
Deep Sea Mooring AS supplies mooring rental equipment, pre-lay mooring solutions, and ancillary services to E&P companies.

Aluminum Offshore

Acquisition in 2011
Aluminium Offshore is a pioneer in the design and production of aluminium alloy structures. The company offer a complete design, supply and assemble package to customers who are looking to upgrade traditional steel and concrete designs to a lighter and corrosion resistant metal.

Teknisk Bureau

Acquisition in 2007
Teknisk Bureau is a technical turnkey contractor and service provider within the fields of pipes, ventilation, telecom, automation, energy consulting, maritime electrical, and electrical. The company takes individual assignments and bigger framework agreements inside the service market. The assignments vary from check of electrical installations in homes to start-up, maintenance, and internal control of bigger facilities. It guarantees customer satisfaction by ensuring that products and services always meet the requirements and expectations and are delivered at the agreed time and price. Teknisk Bureau is based in Norway.


Acquisition in 2013
Vryhof Anchors designs, manufactures, and supplies drag anchors and related mooring equipment for large floating structures and to the offshore energy industries, as well as for offshore civil applications. It offers anchors, tensioning equipment, and marine renewable energy products; anchor data acquisition systems that monitor and visualize the behavior of anchors during installation, and transmit the anchor’s orientation and load data during embedment until final penetration; and polyester mooring lines, chain, and steel wire ropes.

Global Maritime

Acquisition in 2012
Global Maritime is a marine, offshore and engineering consultancy that specializes in marine warranty, dynamic positioning and engineering services, for the oil and gas, offshore renewables, fish farming and traditional shipping industries.

Bennex AS

Acquisition in 2006
Bennex is one of the leading suppliers of subsea distribution (hydraulic and electrical) systems, fiber optic, electromagnetic and seismic applications. Poseidon is a subsea engineering and consulting company capable of marinizing existing Siemens equipment and technology to subsea environment, such as subsea control systems, transformers, switchgears, electric motors automation and compressors along with other complementary elements such like cameras and subsea electric valve actuators.


Acquisition in 2014
CapeOmega is an oil and gas company aiming to capture the value potential in mature producing fields by investing in remaining resources.

Valco Group

Acquisition in 2006
Valco Group manufactures cryogenic valves for industrial applications.

Noreco ASA

Acquisition in 2005
Noreco is a publicly owned company with focus on the oil, gas and offshore industry.


Post in 2015
Kvaerner is an international knowledge-based company. Kvaerner has decades of experience as an EPC contractor. Kvaerner is headquartered in Oslo, Norway, and has offices and fabrication facilities in several of the world’s main oil and gas regions. The Kvaerner brand is associated with some of the world’s most advanced technologies, providing our customers with maximum oil and gas production. At Kvaerner, their focus is on the fundamentals. Concern for health, safety, security and environment (HSSE) is essential for our activities. They see cost control and efficiency as key to successful project execution. At the same time, they know that quality and schedule have to be managed to achieve their ultimate goal: that every project is delivered predictably. Kvaerner delivers complete oil and gas offshore platforms and onshore process plants to operators and other customers. They specialise in executing engineering, procurement and construction (EPC) projects and are recognised as a world leader in delivering projects in challenging environments, with strict budget frames and within demanding schedules. Customers recognise Kvaerner as an expert in delivering cost-efficient project execution and effective oil and gas production facilities. Kvaerner has an organisation of 2 800 employees with expertise and experience covering all phases of a project’s life cycle. We also have the ability to call on a workforce of skilled personnel from strategic partners, subcontractors and suppliers, with whom we have well established relationships. Kvaerner has a long track record of enabling oil companies to realise some of the world’s most demanding and amazing projects. In doing so, they strive to add value to their customers and shareholders, as well as to the nations and local societies in which they operate. The companies brought together to create Kvaerner were established in the first half of the 19th century, during the Industrial Revolution. These companies delivered products such as steam engines for rail and marine use and a range of industrial ironworks. Over the next 100 years, the businesses grew significantly. In the mid1900s, both Kvaerner and Aker were international corporations with activities in shipbuilding, hydro power, wood processing and other process operations, mechanical workshops and other industries. Through the 1970s, 80s and 90s, they developed their capabilities and experience as suppliers of complete solutions to offshore and onshore oil and gas and processing projects. They each grew – organically and through international acquisitions – to be leaders in their markets. In March 2002, the former Kvaerner group and the Aker Maritime group (comprising the oil and gas activities of the wider Aker group) were merged, and started to operate as one company under the name Kvaerner. In 2004, following a restructuring of both Aker and Kvaerner, Aker Kvaerner was established and the parent company of this group – Aker Kvaerner – was listed on the Oslo Stock Exchange. Four years later, Aker Kvaerner changed its name to Aker Solutions. In December 2010, Aker Solutions announced a decision to cultivate its core businesses. Kvaerner was established, through a demerger, as a specialised EPC (engineering, procurement and construction) company addressing the global market. On 6 May 2011, the shareholders' annual general meeting approved the establishing of Kvaerner as a separate company.


Acquisition in 2006
Aarbakke is a supplier of precision manufacturing services to the oil and gas industry. It handles entire customer projects from start to end, including manufacturing, engineering, machining, clad welding, assembly, testing, and documentation.

Spring Energy Norway

Private Equity Round in 2008
Spring Energy Norway is explores, extracts, develops, and produces oil and gas products in Norway.

Energy Drilling Pte Ltd.

Private Equity Round in 2013
Energy Drilling builds and manages self-erecting tender assist drilling rigs to deliver the best-in-class service to oil and gas operators. Energy Drilling's highly skilled & experienced team has previously managed and delivered over 10 new tender drilling rigs. It has developed specifications, managed construction and operated tender rigs for various major oil companies. Furthermore, it has also introduced innovative solutions to advance the efficiency and safety of tender assisted drilling operations.

Flux Group AS

Acquisition in 2014
Flux Group is a provider of products and services across the flow and fluid control sector of the oil and gas industry. Through acquisitions and organic development, Flux Group has established attractive positions in selected market niches. The company has ambitions for expanding its footprint in addition to secure further growth within its present segments.


Acquisition in 2014
Teresoft is a supplier of drilling and well performance solutions. The company offers solutions for planning, training, optimization, and control of drilling operations; and solutions for drilling and crane simulation and training.

MTEM Limited

Series A in 2004
In 2001 Anton Ziolkowski, Bruce Hobbs and David Wright of the University of Edinburgh invented a new electromagnetic method to detect sub-sea and underground hydrocarbons. In 2003 they founded MTEM Ltd. to develop the technology and provide land and marine surveys to oil companies. In November 2004 MTEM Ltd. was launched from the University of Edinburgh with £7.4M of funding from three equal investors: HitecVision, Energy Ventures, and Scottish Equity Partners. MTEM Ltd. developed and built systems to perform land and marine transient electromagnetic surveys that can identify hydrocarbons before drilling, thus reducing the risk of drilling “dry” wells and saving millions of dollars per well. In June 2007 Petroleum Geo-Services (PGS) bought MTEM Ltd. for $275M. The University of Edinburgh’s share of the sale was £8.6M, of which £2.6M funded 164 PhD studentships. PGS continues to develop the technology.

North Sea Strategic Investments

Acquisition in 2015
NSSI is an investment platform that has been established to acquire shares in selected oil service companies.