Company overview

  • July 03, 2014
  • 10:22

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

Company overview

The portfolio comprises: drilling systems and lifecycle services supplier MHWirth; vessel-based subsea well construction and intervention services provider AKOFS Offshore; process systems and services supplier Fjords Processing; surface oil and gas equipment supplier KOP Surface Products; workforce solutions provider Frontica Advantage; and other smaller sized holdings.

The portfolio businesses are developed as standalone entities under the Akastor umbrella and represent the Company’s six reporting segments. Akastor operates globally and has a number of subsidiaries located in Australia, Canada, China, Germany, Indonesia, Malaysia, the Netherlands, Norway, Singapore, the United Kingdom, the United Arab Emirates, and the United States, among others.

Akastor has a range of strategic, operational and financial value-creating measures at its disposal, including operational improvements and organic growth, acquisitions and divestments, and financial measures. Our aim is to maximize the value potential of each entity by clarifying the portfolio companies’ business models, capitalize on their market positions, and strengthen underdeveloped areas of value creation.

Aker Kværner Holding AS, which is owned by Aker ASA and the Norwegian government, is the largest shareholder of Akastor owning 40.27 percent of the shares. The Akastor shares are traded on the Oslo Stock Exchange under the ticker AKA.

Akastor’s portfolio companies generated 2015 revenues of NOK 15.9 billion, EBITDA of NOK 702 million and employ 5 677 people worldwide. Akastor operates a lean corporate centre with 23 employees situated at Fornebu, Bærum, Norway.