Editing Herkules Private Equity makes 2 major acquisitions in June

On June 10th, 2013, Herkules signed an agreement in order to obtain Umoe Schat-Harding AS.. Noreq AS also sold its business to Herkules in conjunction with the Umoe Schat-Harding AS acquisition in order to form a new, incorporated joint holding business. Combining both businesses will develop the world's foremost supplier of life-saving maritime equipment.

New Norwegian life-boat policies will most likely enter into effect in 2015 concerning overseas lifeboats on the Norwegian Continental Shelf. Luckily, both Umoe Schat-Harding and Noreq are well-poised for these brand-new laws as they are the most innovative providers of life-saving equipment. Umoe Schat-Harding's FF 1200 lifeboat sort  is the first on the planet to complete a full-scale test according to the new regulations for free-fall lifeboats on the Norwegian Continental Shelf. In addition, this design of lifeboat holds the record for the highest free-fall worldwide at 65.1 meters. Recently, Noreq has also enjoyed massive success with its collection of enclosed lifeboat davits which are very innovative with reduced installation and maintenance fees

The companies' consolidated income was around NOK 1.2 billion for 2013. Herkules Private Equity Fund III will be the primary owner of the new incorporated business.One of the most senior partner, Morten Blix, of Herkules expressed that the fund is in an outstanding position to produce a combined company that is an international market pacesetter mainly based in Norway.

Umoe-Schat Harding is currently  majority possessed by Jens Ultveit-Moe who is the CEO and President. He has been the owner for the past 26 years of the company.  He thinks Umoe-Schat Harding is presently positioned for rewarding growth because of the efforts of the management and staff members.  He mentioned that year 2012 was the finest year in the organisation's history.

Noreq is managed by Styrk Bekkenes as the managing director. Umoe-Schat Harding will now be the service partner for the 4,200 systems of Noreq.  Styrk Bekkenes stated that Noreq will certainly continue to concentrate on innovation but actually will also focus on their life-saving device solutions as the best priced regarding existing and new customers.

In June, Herkules got a majority of Petroleum Technology Company.  Petroleum Technology Company was set up in 2002 and provides gas lift and wellhead integrity products to oil organisations which will help to boost asset integrity, security, and reliability in addition to minimizing overhead expenses. Overall expected earning for Petroleum Technology Company in 2013 might get to around NOK 200 million.  For the best and exceptional product portfolio that offers the highest possible well integrity level, Petroleum Technology Company is unique in the marketplace today.  Petroleum Technology Company which is located in Stanvanger, Norway.

Erling Kleppa, current chairman and co-founder of Petroleum Technology Company, stated that the agreement with Herkules will position the business to help supply its consumers with excellent service in addition to providing a strong platform for development.  The senior partner of Herkules, Morten Blix, mentioned that Herkules had been impressed with Petroleum Technology Company's product portfolio being regarded as market leading from  technological understanding and that Herkules looked forward to working with the management of Petroleum Technology Company.

 The top private equity fund in Norway is Herkules Private Equity. It has a total capital base of NOK 12.25 billion.  The fund invests in business that are currently developed yet have strong growth potential, both organically and with acquisitions.  Herkules focuses on business mostly in Norway as well as through the Nordic nations.

 Sale of Finland's largest healthcare provider, Terveystalo, by Bridgepoint for $650m to Conni Jonsson's EQT and sale of WERU simply by Triton Partners, [http://zoominfo.com/p/Peder-Prahl/1742879454 Investment Advisory Professional Peder Prahl], to H.I.G. Capital appeared to be among the notable purchases in Nordic areas.