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 |
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keyboard_arrow_downHMH
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Global full-service offshore and onshore drilling equipment provider | 50% | HMH formed in 2021 following combination of MHWirth and Baker Hughes’ Subsea Drilling Systems division. |
About For more information: hmhw.com Revenues 2024: USD 843 million Management Thomas McGee, CFO Chairman of the board Dan Rabun |
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keyboard_arrow_downAKOFS Offshore
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Global provider of subsea well construction and intervention services | 66.7% | 2014 (demerger) |
About For more information: akofsoffshore.com Revenues 2024: USD 139 million Management Chairman of the board |
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| Company | Service offering | Ownership | Initial investment |
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keyboard_arrow_downNES Fircroft
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Global engineering and technical workforce solutions provider | ~15%¹ | 2017 |
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keyboard_arrow_downDDW Offshore AS
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Owner of 3 mid-sized Anchor Handling Tug Supply (AHTS) vessels | 100% | 2014 (demerger) |
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keyboard_arrow_downOdfjell Drilling
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Owns and operates a fleet of four high-quality harsh environment and ultra-deep water capable semi-submersible offshore drilling units. The company also manages similar units on behalf of other asset owners | 1.3% | 2024² |
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keyboard_arrow_downABL Group
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Offers independent energy and marine consultancy to the global renewables, maritime and oil and gas sectors | 4.6% | 2023 |
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keyboard_arrow_downMaha
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International upstream oil and gas company whose business activities include exploration, development and production of crude oil and natural gas | 1.7% | 2023 |
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keyboard_arrow_downFøn Energy Services
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Independent service provider to offshore wind and other energy sectors | 36% | 2021 (carved out from AGR in 2023) |
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keyboard_arrow_downAwilco Drilling
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Legacy drilling contractor | 6.8% | 2018 |
¹ Economic interest.
² Odfjell Drilling Ltd. shares received in May 2024 pursuant to warrant agreement entered into in 2018.
| Company | Transaction | Deal size | Date |
| AGR | 100% sale to ABL Group against a combination of shares in ABL and cash | NOK 353m | 2023 |
| Cool Sorption | 100% sale of Cool Sorption to Diamond Key International Pty. Ltd | DKK 20m | 2023 |
| Odfjell Drilling | Sale of preferred equity holding | USD 95m | 2022 |
| MHWirth | Merged with Baker Hughes Subsea Drilling Systems to create HMH | N/A¹ | 2021 |
| First Geo | Merged with AGR with AGR as the continuing entity | NOK 270m | 2019 |
| AKOFS Offshore | 50% sale to form joint venture with Mitsui and MOL | USD 142.5m | 2018 |
| Northern Drilling | Minority share sale (financial investment) | NOK 88m | 2017 |
| KOP | 100% sale of KOP Surface Products to The Weir Group PLC | USD 114m | 2017 |
| Frontica Advantage | Frontica Advantage merges with NES Global Talent | NOK 400m | 2017 |
| Fjords | 100% sale of Fjords Processing to National Oilwell Varco (NOV) | NOK 1,200m | 2016 |
| Frontica Business Solutions | 100% sale of Frontica Business Solutions to Cognizant | NOK 1,025m | 2016 |
| MPO | 100% sale of Managed Pressure Operations (MPO) to AFGlobal | USD 10m | 2016 |
| Real Estate | Sale of real estate portfolio to Aker ASA | NOK 1,243m | 2015 |
¹ 50% ownership in HMH. As part of the structure, Akastor also received a gross cash consideration from HMH of USD 100m at closing.