HitecVision AS is a private equity firm based in Stavanger, Norway, specializing in investments within the energy sector, particularly focusing on oil and gas-related service technologies and production companies. Established in 1985, the firm targets middle market companies and participates in a range of investment activities, including seed stage, growth capital, management buyouts, and public-to-private transactions. HitecVision invests between $30 million and $150 million for controlling stakes in companies with an enterprise value of up to $300 million, primarily in regions such as Norway, the United Kingdom, and the United States. The firm has a strong track record, having acquired, invested in, or established over 150 companies and successfully exited more than 100 since 1994. With additional offices in Oslo, London, Aberdeen, and Houston, HitecVision leverages its industry expertise to create value by partnering with entrepreneurial managers to build sustainable businesses.
Aneo is a leading independent energy transition group in the Nordics.The company operates the second-largest onshore wind farm in Norway, owns a sizable number of hydropower facilities, and engages in a number of downstream electrification projects. Aneo's overall capacity for electricity production is about 1.3 TWh, and the group is in charge of 6 TWh. Aneo has over 260 people and is based in Trondheim. By 2030, the corporation wants to hold the top positions in Nordic onshore renewable energy development, ownership, and operation. Aneo was founded in 2022 using the resources and structure of TrnderEnergi.
Hafslund Celsio, based in Oslo, is Norway's largest district heating company, employing around 200 people and providing heat to over 200,000 residents. The company focuses on renewable thermal energy production, offering heating and cooling services to urban populations while supporting national climate goals. A key initiative in its strategy for decarbonization is the carbon capture project at the Klemetsrud waste incineration facility, which has the capacity to capture 400,000 tonnes of CO2 annually. Through these efforts, Hafslund Celsio aims to reduce greenhouse gas emissions and contribute significantly to the sustainability of Oslo and the broader Norwegian climate agenda.
Vårgrønn specializes in the development, construction, operation, and ownership of offshore wind energy projects within the European market. The company aims to achieve a total installed and sanctioned offshore wind capacity of 5 gigawatts by 2030. Additionally, Vårgrønn focuses on sustainable and renewable energy generation, particularly in the Nordic region, where it also explores opportunities related to the electrification of offshore oil and gas installations in the North Sea. By facilitating financing for green energy initiatives, Vårgrønn supports the transition to sustainable infrastructure in the energy sector.
Sval Energi, founded in 2019, is an energy company focused on establishing a diverse asset base. The firm holds interests in significant infrastructure, including the Polarled pipeline and Gassled, the world's largest offshore gas transmission system. Sval Energi is involved in the exploration and development of oil and gas reserves and also owns a wind park project in Finland. The company aims to address the growing demand for clean energy while recognizing the importance of reducing the industry's carbon footprint. Through its gas processing and transportation services, Sval Energi supports energy distribution by maintaining and enhancing infrastructure, enabling efficient gas transport for its clients.
Hav Energy is a Norway-based energy infrastructure company established by HitecVision, focused on developing sustainable energy solutions for European energy and utility firms. The company specializes in creating and managing energy infrastructure, which includes regulated pipelines, terminals, production facilities, power infrastructure, and carbon capture and storage systems. By leveraging its expertise in legal frameworks, operations, and asset management, Hav Energy offers customized financial structures that enhance cash flow and project economics for its clients. Through its investments and development efforts, Hav aims to establish itself as a leading firm in the energy infrastructure sector and actively contribute to the ongoing energy transformation.
Vår Energi is a next generation oil and gas operator on the NCS. Vår Energi's core business is to maximize value through safe and responsible exploration, development and production of hydrocarbons. Vår Energi was established in 2018 in Rogaland, Norway.
North Sea Strategic Investments
Venture Round in 2015
NSSI is an investment platform that has been established to acquire shares in selected oil service companies.
North Sea Strategic Investments
Acquisition in 2015
NSSI is an investment platform that has been established to acquire shares in selected oil service companies.
Wellpartner is a nationally recognized provider of pharmacy distribution solutions, catering to health plans, Medicaid programs, and safety net organizations across the United States. The company specializes in managing 340B programs and offers a range of services aimed at enhancing pharmacy care while reducing medication costs. Wellpartner employs innovative strategies, including retail contract pharmacy services, to improve healthcare outcomes. As the largest independent provider of contract pharmacy program services in the country, Wellpartner focuses on ensuring compliance, maximizing claims capture, and optimizing specialty pharmacy access. By enabling healthcare organizations to efficiently utilize limited federal resources, Wellpartner helps reach more eligible patients and delivers more comprehensive services, ultimately leading to lower prescription costs and enhanced pharmacy care.
Aquamarine Subsea AS is an international service company based in Stavanger, Norway, with additional offices in Jørpeland, Vestby, and Houston, Texas. It specializes in providing material technology solutions and asset integrity services to the oil and gas drilling and subsea sectors. The company offers a wide range of services, including thermal coating, welding solutions, and fabrication, repair, and maintenance for various drilling equipment and pressure control systems. Additionally, Aquamarine Subsea provides engineering services such as mechanical and hydraulic system design, third-party inspection, and product research and development. Its product offerings include BOP-stack frame systems, well capping systems, and various tools for drill pipe handling and testing. By focusing on asset management and life cycle service solutions, the company serves rig owners, operators, and original equipment manufacturers in the global drilling and subsea markets. Aquamarine Subsea was incorporated in 2013.
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.
DeepWell is a well intervention company based near Haugesund, Norway, specializing in wireline services for the oil industry. The company focuses on providing real-time information to enhance safety and efficiency during well operations. Its services include mechanical wireline, equipment rental, testing and training, as well as maintenance and engineering support. By offering these services, DeepWell aims to help oil companies improve productivity and reduce operational costs.
WellPartner is a service company that delivers technical expertise, equipment, and services within subsea drilling, completion, and well intervention operations. The company's pharmacy distribution services are finely tuned towards achieving the best results for healthcare organizations through URAC-accredited specialty pharmacy services, ensuring program compliance, and aligning specialty network access.
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.
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.
Offshore Merchant Partners is an independent specialty finance company providing financing solutions to the global oil & gas related offshore asset markets.
Energy Drilling specializes in the development, construction, and operation of self-erecting tender assist drilling rigs, primarily serving the offshore drilling market. The company is dedicated to providing high-quality services to oil and gas operators, leveraging a team with extensive experience in managing the delivery of new tender drilling rigs. Energy Drilling has a proven track record in developing specifications, overseeing construction, and operating these rigs for major oil companies. The company emphasizes the importance of safety and environmental stewardship in its operations, striving to enhance the efficiency and safety of tender-assisted drilling processes through innovative solutions.
Oyster Petroleum Limited is an oil and gas exploration and production company based in Horsham, United Kingdom, with a primary focus on the North Sea. Established in 2013, the company is dedicated to exploring new oil reserves in this region. As of October 28, 2016, Oyster Petroleum operates as a subsidiary of Independent Oil & Gas Plc.
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.
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.
Aluminium Offshore specializes in the design and production of aluminum alloy structures for the energy and infrastructure sectors. The company provides a comprehensive service that includes design, supply, and assembly, catering to clients seeking to replace traditional steel and concrete constructions with lighter and corrosion-resistant aluminum solutions. Its product offerings encompass a range of structures such as helideck equipment, modular living quarters, mud mats, as well as handrail and walkway systems. Through its innovative approach, Aluminium Offshore aims to enhance the durability and efficiency of offshore operations.
Atlantica Tender Drilling Ltd. is a company based in Houston, Texas, that specializes in providing management and contract drilling services for oil and gas wells in the offshore tender assist market. Founded in 2007, the company focuses on designing, fabricating, and operating tender drilling units that are safe and efficient. Through its well-designed vessels and high-quality equipment packages, Atlantica Tender Drilling delivers cost-effective solutions for the offshore drilling market while prioritizing personnel safety. The company, formerly known as BassDrill Ltd., rebranded in July 2013, reflecting its commitment to innovation and excellence in offshore oilfield services.
Havfram specializes in providing installation services for marine and subsea operations, primarily serving the oil and gas and offshore wind industries. The company supports the transition of energy production from traditional offshore oil and gas to renewable sources by offering comprehensive engineering, procurement, construction, and installation services. This enables clients to develop and implement facilities tailored to their specific operational requirements in both sectors.
Tampnet operates the world's largest offshore high-capacity communication network, primarily in the North Sea and the Gulf of Mexico, catering to over 350 oil and gas platforms, floating production storage and offloading units (FPSOs), and exploration rigs. The company specializes in providing high-speed, low-latency, and reliable data connectivity through a robust infrastructure that includes fiber optic cables, 4G base stations, and microwave links. By connecting offshore assets to a resilient terrestrial network, Tampnet aims to enhance the quality, health, safety, efficiency, and welfare of its customers' offshore operations. The company envisions becoming a global leader in delivering reliable communication solutions for offshore installations, mobile rigs, and vessels.
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.
HPD is an independent market provider of advanced engineering services, software solutions and integration systems to the drilling and well industry world wide.
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.
Poseidon Group AS specializes in providing marinization, engineering, and technical consulting services tailored for the oil and gas industry. The company focuses on subsea marinization, offering expertise in adapting equipment and technology for underwater environments. Through its engineering and consulting services, Poseidon Group aims to support clients in optimizing their operations and ensuring the reliability and efficiency of subsea projects.
Teknisk Bureau is a technical turnkey contractor and service provider based in Norway, specializing in pipes, ventilation, telecom, automation, energy consulting, and electrical services, including maritime electrical. The company serves various sectors, including construction, industrial, energy, and maritime vessels, handling both individual assignments and larger framework agreements in the service market. Teknisk Bureau's range of services includes the inspection of electrical installations in residential settings, as well as the start-up, maintenance, and internal control of larger facilities. The company is committed to customer satisfaction by ensuring that its products and services meet established requirements and expectations, and are delivered on time and within budget.
Apply 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 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 was founded in 1979.
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.
Noble Denton
Acquisition in 2006
Noble Denton is an independent, market-leading firm of consultants offering an integrated range of marine and engineering consultancy.
Technor ASA
Acquisition in 2006
Technor ASA is a privately held company that provides industrial machinery.
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.
RigNet, Inc. specializes in providing remote communications services tailored for the oil and gas industry, both in North America and globally. The company operates a controlled Internet protocol/multiprotocol label switching (IP/MPLS) network that facilitates communication among drilling contractors, oil companies, and oilfield service providers. RigNet's offerings include a comprehensive suite of voice, video, and data services, enabling high-speed Internet access and real-time data management at offshore and land-based locations. Its services encompass voice-over-Internet-protocol, WiFi hotspots, video conferencing, and telemedicine, among others. Additionally, RigNet features the Secure Oil Information Link, a private communications hub designed for collaborative data sharing among partners and clients. The company serves various stakeholders in approximately 30 countries, including the United States, Mexico, Qatar, Saudi Arabia, Singapore, and Australia. Founded in 2000 and headquartered in Houston, Texas, RigNet plays a crucial role in enhancing operational intelligence and minimizing disruptions for its clients in the oil and gas sector.
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