Halvorsen Group AS (“Halvorsen”), specialising in providing topside processing equipment and engineering services to the international offshore oil & gas industry, is planning further expansion following a substantial strategic investment from Blue Water Energy.
Blue Water Energy’s investment will accelerate the incumbent management team’s strategic growth plan to build Halvorsen into a market-leading, global player in the offshore processing equipment and power system markets.
Halvorsen CEO, Sigve Skimmeland, says Blue Water Energy’s investment is a strong recognition of the position Halvorsen has established with its bespoke technology offering in its core markets in recent years, commenting:
”Establishing a true partnership with Blue Water Energy creates an unique platform for Halvorsen to achieve the ambition of becoming a complete supplier to the global process and topside market. The Blue Water Energy team brings an impressive and highly relevant experience base to Halvorsen and I very much look forward working together to achieve our future plans”.
Tom Sikorski, Partner of Blue Water Energy, commented, “This transaction is consistent with Blue Water Energy’s objective of providing growth investment alongside high-quality European-domiciled energy businesses. Sigve and his management team have built an impressive organisation which has grown substantially from its Norwegian roots. We look forward to a fruitful partnership with Halvorsen under Sigve’s guidance”.
For further information on this press release please contact:
Matthew Williams, Vice President
Blue Water Energy LLP
Telephone: +44 (0) 20 7290 5090
Email: [email protected]
Established in 1842, Halvorsen provides specialised pressure and temperature technology, waste heat recovery systems, gas turbine auxiliaries, power systems and associated engineering services to a broad range of international energy clients. The Company is headquartered in Stavanger, Norway, with additional locations in Kvinesdal and Oslo, Mosonmagyaróvár, Hungary and Houston, USA. Halvorsen employs approximately 500 staff.
For more information visit www.halvorsen.no.
Simmons & Company International Limited and Advokatfirmaet Schjødt represented Halvorsen in the investment.
About Blue Water Energy:
Founded in 2011, Blue Water Energy is a leading global middle market energy private equity firm based in London. The firm primarily targets private equity investments in the upstream and midstream/downstream energy supply chain, while partnering with best-in-class management teams and utilising a network of seasoned investment and operating professionals that drive value throughout all aspects of the investment process. Its Partners have on average 25 years of relevant experience and, complemented by a seasoned investment team, the Blue Water Energy investment team possess combined experience spanning over 160 years.
For more information visit www.bluewaterenergy.com.
Wikborg, Rein & Co represented Blue Water Energy.