Herkules Private Equity makes 2 major acquisitions in June

A contract was signed by Herkules on June 10th, 2013 to be able to obtain Umoe Schat-Harding AS. Noreq AS also offered its company to Herkules in conjunction with the Umoe Schat-Harding AS acquisition in order to form a new, combined joint holding company. Combining both businesses will produce the world's foremost provider of life-saving maritime equipment. The most current Norwegian life-boat policies is likely to go into action in 2015 relating to overseas life-boats on the Norwegian Continental Shelf. Both Umoe Schat-Harding and Noreq are well-poised for these new policies as they are the most ingenious suppliers of life-saving devices. Model FF 1200 of Umoe Schat-Harding lifeboat is the very first in the entire world to finish a full-scale examination check in accordance to the brand-new regulations for free-fall lifeboats - http://photobucket.com/images/lifeboats on the Norwegian Continental Shelf. Furthermore, this design of life boat holds the record for the greatest free-fall in the universe at 65.1 meters.Noreq has actually also enjoyed current success with its series of enclosed lifeboat davits. These davits are quite innovative and reduce installation and maintenance costs. The business' combined income was around NOK 1.2 billion for 2013.The principal owner of the brand-new integrated business will be Herkules Private Equity Fund III.The most senior partner, Morten Blix, of Herkules expressed that the fund is in an outstanding position to establish an integrated firm that is a worldwide market leader primarily based in Norway. At the moment Umoe-Schat Harding is majorly owned just by Jens Ultveit-Moe who is the CEO at the same time President. Jens Ultveit-Moe has been the owner for the past 26 years of the firm. He thinks Umoe-Schat Harding is currently placed for profitable growth because of the efforts of the management and staff members. He mentioned that year 2012 was the most beneficial year in the business's history. Styrk Bekkenes - http://www.marinelink.com/news/bekkenes-harding-named356469.aspx is functioning as the handling director of Noreq. Umoe-Schat Harding will now be the service partner for the 4,200 systems of Noreq. Styrk Bekkenes specified that Noreq will remain to focus on innovation but will also concentrate on their life-saving equipment solutions as being the best priced for existing and new consumers. In June, Herkules bought a bulk of Petroleum Technology Company. Petroleum Technology Company was launched in 2002 and supplies gas lift and wellhead trustworthy products to oil business which will help to improve asset stability, security, and reliability along with reducing overhead expenses. Petroleum Technology Company's overall anticipated income for 2013 needs to reach around NOK 200 million. For the best and exceptional goods portfolio that supplies the highest possible well integrity level, Petroleum Technology Company is unique in the market today. Petroleum Technology Company is headquartered in Stavanger, Norway. Erling Kleppa, present chairman and co-founder of Petroleum Technology Company, specified that the agreement with Herkules will position the business to help supply its clients with outstanding service in addition to supplying a strong platform for growth. Morten Blix, a senior partner of Herkules, mentioned that Herkules was impressed with Petroleum Technology Company's item portfolio being viewed as market leading from a technological perspective which Herkules anticipated working with the management of Petroleum Technology Company. The top private equity finance fund in Norway is Herkules Private Equity. It has an overall capital base of NOK 12.25 billion. The fund invests in business that are currently established yet have strong growth potential, both naturally and through acquisitions. Herkules focuses on companies mostly in Norway and also throughout the Nordic nations. Sale of Finland's largest health care provider, Terveystalo, through Bridgepoint for $650m to Conni Jonsson's EQT and also sale of WERU through Triton Partners, investment committee member Peder Prahl - http://www.zoominfo.com/p/Peder-Prahl/1742879454 , to H.I.G. Capital were among the notable investments in Nordic regions.