News

19 August 2014

HALVORSEN OFFSHORE AS ACQUIRES IPE AS

19 August 2014

Halvorsen Group AS strengthens its subsidiary Halvorsen Offshore AS through the acquisition of IPE AS.

Halvorsen Group AS (“Halvorsen” or the “Group”) announced today the strengthening of its subsidiary Halvorsen Offshore AS (“HO”) through the acquisition of a majority shareholding in IPE AS (“IPE”). IPE, based on Søgne, Norway, is a leading provider of engineered electroinstrumentation solutions to a wide variety of customers in the oil, gas and marine industries. These capabilities complement HO’s existing product portfolio and augment the broader Group’s ability deliver fully engineered process equipment solutions.

Since IPE’s founding in 2012, HO and IPE have closely cooperated in order to deliver a number of high-value process packages to key customers on the Norwegian Continental Shelf. This transaction represents the next step for this relationship and will bring material benefit to both parties.

Frode Olsen, Managing Director of HO, commented “We are delighted to have IPE as part of our team. Their organization adds complementary engineering capabilities to our own existing capabilities, and, in particular, brings strong electroinstrumentation disciplines. We already know IPE well though past cooperation and look forward to investing and growing our business in the Kristiansand region.”

“By becoming a part of Halvorsen Group, IPE can leverage its expertise across a wider customer base, as well as bring substantial relationships and a strong track record in the electroinstrumentation space to bear”, said Trond Larsen, Managing Director of IPE AS. “Together with HO, we will focus on maximizing our pipeline of high-quality projects and on the recruitment of more skilled personnel as our footprint grows.”

CONTACT PERSONS

Frode Olsen
Managing Director, Halvorsen Offshore AS
+47 992 85610
[email protected]

Trond Larsen
Managing Director, IPE AS
+47 900 73490
[email protected]

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