Investments

Akastor’s focus and goal is to create added value in our holdings by being an active owner and to make value-generating transactions. Akastor is able to make a contribution as a financially robust, well established and committed owner with clear goals for growth and profitability. Our origin, solid industrial know-how and flexibility make us an attractive owner in many situations.

Company Service offering Ownership Initial investment
keyboard_arrow_downAGR
Global provider of well design and drilling project management, HSEQ, reservoir and field management services 64%¹ 2019

Service offering
Global provider of well design and drilling project management, HSEQ, reservoir and field management services

Ownership
64%¹

Initial investment
2019

About

AGR is the leading well design and drilling project management, HSEQ, reservoir and field management service company delivering solutions for the entire field life cycle. AGR also provide rig procurement, tailored training, software and technical manpower for clients globally.

¹Economic interest (100% legal ownership)

For more information: agr.com

Revenues 2021: NOK 723m
Employees: 388
HQ: Skøyen (Oslo), Norway

Management
Svein Sollund, CEO
Snorre Woll, CFO

Chairman of the board
Paal E. Johnsen

keyboard_arrow_downAKOFS Offshore
Global provider of subsea well construction and intervention services 50% 2014 (demerger)

Service offering
Global provider of subsea well construction and intervention services

Ownership
50%

Initial investment
2014 (demerger)

About
AKOFS Offshore is a provider of vessel-based subsea well construction and intervention services to the oil and gas industry. The company has a highly competent and diverse organization, covering all phases from conceptual development to project execution and offshore operations.

For more information: akofsoffshore.com

Revenues 2021: USD 147m
Employees: 292
HQ: Skøyen (Oslo), Norway

Management
Geir A. Sjøberg, CEO
Fredrik N. Hunstad, CFO

Chairman of the board
Paal E. Johnsen

keyboard_arrow_downHMH
Global full-service offshore and onshore drilling equipment provider 50% 2014 (demerger)

Service offering
Global full-service offshore and onshore drilling equipment provider

Ownership
50%

Initial investment
2014 (demerger)

About
HMH delivers a global full-service offshore and onshore drilling equipment offering that provides a broad portfolio of products and services. The portfolio also includes providing equipment and services for other industries including civil construction, offshore wind, mining and more.

For more information: hmhw.com

Revenues 2021: USD 568m
Employees: 2,100
HQ: Houston and Kristiansand

CEO & Chairman
Eirik Bergsvik

Company Service offering Ownership Initial investment
keyboard_arrow_downAwilco Drilling
North Sea Drilling Contractor, owning and operating Harsh Environment Semi-Submersible rigs 6.8% 2018

Service offering
North Sea Drilling Contractor, owning and operating Harsh Environment Semi-Submersible rigs

Ownership
6.8%

Initial investment
2018

For more information, please visit awilcodrilling.com

keyboard_arrow_downOdfjell Drilling
International drilling, well service and engineering company with 2,000 employees and operations in more than 20 countries Warrant structure, with a max. potential of 6.8 million shares 2018

Service offering
International drilling, well service and engineering company with 2,000 employees and operations in more than 20 countries

Ownership
Warrant structure, with a max. potential of 6.8 million shares

Initial investment
2018

For more information, please visit odfjelldrilling.com

keyboard_arrow_downNES Fircroft
Global engineering and technical workforce solutions provider 15% 2017

Service offering
Global engineering and technical workforce solutions provider

Ownership
15%

Initial investment
2017

For more information, please visit nesfircroft.com

keyboard_arrow_downDDW Offshore AS
Company owning 5 mid-sized AHTS vessels. 100% 2014 (demerger)

Service offering
Company owning 5 mid-sized AHTS vessels.

Ownership
100%

Initial investment
2014 (demerger)

For more information, please visit ddwoffshore.com

CompanyTransactionDeal sizeDate
Cool Sorption100% sale of Cool Sorption to Diamond Key International Pty. LtdDKK 20m2023
Odfjell DrillingSale of preferred equity holdingUSD 95m¹2022
MHWirth

Merged with Baker Hughes Subsea Drilling Systems to create HMH

N/A²2021
First GeoMerged with AGR with AGR as the continuing entityNOK 270m2019
AKOFS Offshore50% sale to form joint venture with Mitsui and MOLUSD 142.5m2018
Northern DrillingMinority share sale (financial investment)NOK 88m2017
KOP100% sale of KOP Surface Products to The Weir Group PLCUSD 114m2017
Frontica AdvantageFrontica Advantage merges with NES Global TalentNOK 400m2017
Fjords100% sale of Fjords Processing to National Oilwell Varco (NOV)NOK 1,200m2016
Frontica Business Solutions100% sale of Frontica Business Solutions to CognizantNOK 1,025m2016
MPO100% sale of Managed Pressure Operations (MPO) to AFGlobalUSD 10m2016
Real EstateSale of real estate portfolio to Aker ASANOK 1,243m2015


¹ Incl. USD 20m seller’s credit.

² 50% ownership in HMH. As part of the structure, Akastor also received a gross cash consideration from HMH of USD 100m at closing.

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