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_downHMH
Global full-service offshore and onshore drilling equipment provider 50% 2014 (demerger). HMH formed in 2021 following combination of MHWirth and Baker Hughes’ Subsea Drilling Systems division.

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

Ownership
50%

Initial investment
2014 (demerger). HMH formed in 2021 following combination of MHWirth and Baker Hughes’ Subsea Drilling Systems division.

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 2022: USD 675 million
Employees: 2,099
HQ: Houston and Kristiansand

CEO & Chairman
Eirik Bergsvik

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 2022: NOK 1 453 million
Employees: 348
HQ: Skøyen (Oslo), Norway

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

Chairman of the board
Paal E. Johnsen

Company Service offering Ownership Initial investment
keyboard_arrow_downNES Fircroft
Global engineering and technical workforce solutions provider ~15%¹ 2017

Service offering
Global engineering and technical workforce solutions provider

Ownership
~15%¹

Initial investment
2017

For more information, please visit nesfircroft.com

keyboard_arrow_downDDW Offshore AS
Company owning 3 mid-sized AHTS vessels. 100% 2014 (demerger)

Service offering
Company owning 3 mid-sized AHTS vessels.

Ownership
100%

Initial investment
2014 (demerger)

For more information, please visit ddwoffshore.com

keyboard_arrow_downABL Group
Offers independent energy and marine consultancy to the global renewables, maritime and oil and gas sectors 4.9% 2023

Service offering
Offers independent energy and marine consultancy to the global renewables, maritime and oil and gas sectors

Ownership
4.9%

Initial investment
2023

For more information, please visit abl-group.com

keyboard_arrow_downMaha
International upstream oil and gas company whose business activities include exploration, development and production of crude oil and natural gas 1.7% 2023

Service offering
International upstream oil and gas company whose business activities include exploration, development and production of crude oil and natural gas

Ownership
1.7%

Initial investment
2023

For more information, please visit maha-energy.com

keyboard_arrow_downFøn Energy Services
Independent service provider to the offshore and onshore wind industry and traditional energy sectors 44% 2021 (carved out from AGR in 2023)

Service offering
Independent service provider to the offshore and onshore wind industry and traditional energy sectors

Ownership
44%

Initial investment
2021 (carved out from AGR in 2023)

For more information, please visit fonenergyservices.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_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

¹ Economic interest

CompanyTransactionDeal sizeDate
AGR100% sale to ABL Group against a combination of shares in ABL and cashNOK 353m2023
Cool Sorption100% sale of Cool Sorption to Diamond Key International Pty. LtdDKK 20m2023
Odfjell DrillingSale of preferred equity holdingUSD 95m2022
MHWirth

Merged with Baker Hughes Subsea Drilling Systems to create HMH

N/A¹2021
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 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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