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_downMHWirth
Global provider of drilling systems, products and services 100% 2014 (demerger)

Service offering
Global provider of drilling systems, products and services

Ownership
100%

Initial investment
2014 (demerger)

About
MHWirth is a leading global provider of integrated drilling solutions and services with world class technology and leading engineering and project management capabilities. MHWirth has a global reach covering five continents with offices in 12 countries.

For more information: mhwirth.com

Revenues 2017: NOK 3,030m
Employees: 1,400
HQ: Kristiansand, Norway

Management
Finn A. Norbye, CEO
Dag Stenevik, CFO

Chairman of the board
Leif Borge

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 2017: NOK 778m
Employees: 180
HQ: Skøyen, Norway

Management
Geir A. Sjøberg, CEO
Eivind H. Høiback, CFO

Chairman of the board
Paal E. Johnsen

keyboard_arrow_downStep Oiltools
Global provider of solid controls and drilling waste management services 100% 2014 (demerger)

Service offering
Global provider of solid controls and drilling waste management services

Ownership
100%

Initial investment
2014 (demerger)

About
Step Oiltools is a leading global provider of Solids Control and Drilling Waste Management services to the oil and gas, and civil engineering industries. Located in over 15 countries STEP Oiltools has a strong regional presence in Asia, the Middle East, and Europe.

For more information: stepoiltools.com

Revenues 2017: NOK 242m
Employees:
HQ: Schiphol, Netherlands

Management
Darrell Krieger, CEO
Alan Tan, CFO

Chairman of the board
Eskil Hansen

keyboard_arrow_downFirst Geo
Provider of geology services and well management 100% 2014 (demerger)

Service offering
Provider of geology services and well management

Ownership
100%

Initial investment
2014 (demerger)

About
First Geo is a leading provider of operation and wellsite geology services with superior knowledge of the Norwegian Continental Shelf, including the Barent Sea, as well as international experience.

For more information: first-geo.com

Revenues 2017: NOK 98m
Employees: 40
HQ: Stavanger, Norway

Management
Helge H. Nyrønning, CEO
Sveinn Palmason, CFO

Chairman of the board
Geir A. Sjøberg

keyboard_arrow_downCool Sorption
Vapour recovery technology, systems and services to oil and gas installations 100% 2014 (demerger)

Service offering
Vapour recovery technology, systems and services to oil and gas installations

Ownership
100%

Initial investment
2014 (demerger)

About
Cool Sorption is a major supplier of Vapour Recovery Units (VRU) and systems. Cool Sorption enjoys a complete product portfolio, which ranges from small compact units to the industry’s most complex systems, making it a recognized technology provider worldwide

For more information: coolsorption.com

Revenues 2017: NOK 53m
Employees: 30
HQ: Copenhagen, Denmark

Management
Leonard Celegin, CEO
Mia Knudsen, CFO

Chairman of the board
Øyvind Paaske

Company Service offering Ownership Initial investment
NES Global Talent
Global O&G Manpower specialist 17% 2017

Service offering
Global O&G Manpower specialist

Ownership
17%

Initial investment
2017

Odfjell Drilling
International drilling, well service and engineering company with 2,000 employees and operations in more than 20 countries USD 75m preferred equity 2018

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

Ownership
USD 75m preferred equity

Initial investment
2018

Awilco Drilling
North Sea drilling contractor with two semisubmersible drilling unit plus one under construction and three option rigs 5.5% 2018

Service offering
North Sea drilling contractor with two semisubmersible drilling unit plus one under construction and three option rigs

Ownership
5.5%

Initial investment
2018

DOF Deepwater
Company owning 5 mid-sized AHTS vessels operated by DOF ASA 50% 2014 (demerger)

Service offering
Company owning 5 mid-sized AHTS vessels operated by DOF ASA

Ownership
50%

Initial investment
2014 (demerger)

CompanyTransactionDeal sizedate
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 Business100% sale of Frontica Business Solution to CognizantNOK 1,025m2016
MPO100% sale of Managed Pressure Operations (MPO) to AFGlobalUSD 10m (1)2016
Real EstateSale of real estate portfolio to Aker ASANOK 1,243m2015

1) Plus earnout of max USD 65m

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