View source for Herkules Private Equity makes two significant acquisitions in June

On June 10th, 2013, Herkules signed a contract in order to acquire Umoe Schat-Harding AS.. Moreover, Noreq AS also offered its company to Herkules along with the Umoe Schat-Harding AS acquisition  as a way to form a brand-new, [http://search.usa.gov/search?affiliate=usagov&query=integrated+joint integrated joint] holding company. The end result of integrating both organisations will establish the world's best  supplier of life-saving maritime machine.<br><br>The most current Norwegian life-boat laws will likely go into action in 2015 regarding overseas life-boats on the Norwegian Continental Shelf. Both Umoe Schat-Harding and Noreq are well-poised for these brand-new policies as they are the most cutting-edge suppliers of life-saving machine.  Model FF 1200 of Umoe Schat-Harding lifeboat is the first of all in the entire world to finish a full-scale examination check according to the brand-new regulations for free-fall lifeboats on the Norwegian Continental Shelf. Furthermore, this model of life boat retains the record for the highest free-fall in the entire world at 65.1 meters.Most recently, Noreq has additionally enjoyed significant success with its collection of enclosed lifeboat davits which are very innovative with lowered servicing charges.<br><br>The companies' combined profits was around NOK 1.2 billion for 2013. Herkules Private Equity Fund III will be the primary owner of the new integrated company.One of the most senior partner, Morten Blix, of Herkules explained that the fund is in an outstanding position to develop an integrated firm that is an international market pacesetter mainly based in Norway.<br><br>Umoe-Schat Harding is presently  majority possessed by Jens Ultveit-Moe who is the CEO and President. He has actually been the owner for the past 26 years of the business.   Jens Ultveit-Moe thinks Umoe-Schat Harding is right now placed for lucrative growth because of the efforts of the current administration and workers.  He also claimed that year 2012 was the finest year in the organisation's history.<br><br>Noreq is managed by [http://www.kvinnheringen.no/nyhende/article6751154.ece Styrk Bekkenes] as the handling director. Umoe-Schat Harding will now be the service partner for the 4,200 devices of Noreq.  Styrk Bekkenes stated that Noreq will remain to focus on innovation however will also focus on their life-saving equipment options as being the very best priced for existing and new clients.<br><br>Also in June, Herkules acquired a majority of Petroleum Technology Company.  Petroleum Technology Company was launched in 2002 and offers gas lift and wellhead stable items to oil business which can help to boost asset credibility, security, and stability along with reducing overhead expenses. Petroleum Technology Company's total expected income for 2013 should reach around NOK 200 million.   For the best and unique goods profile that offers the strongest well integrity grade, Petroleum Technology Company stands out in the market today.  Petroleum Technology Company which is headquatered in Stanvanger, Norway.<br><br>Current chairman and also co-founder of Petroleum Technology Company, Erling Kleppa,  expressed the agreement together with Herkules will most likely position the organization to help supply its customers with excellent service besides putting together a solid platform for progress.  A senior partner of Herkules, Morten Blix, expressed that Herkules had been pleased with Petroleum Technology Company’s product and service portfolio being perceived as market leading from  technological understanding and that Herkules looked forward to working together with the management of Petroleum Technology Company.<br><br>Herkules Private Equity is Norway's number one private equity fund. It has a total capital base of NOK 12.25 billion.  The finance institution invests in organisations that are actually developed yet have strong development capacity, both organically and by means of business investment. Herkules concentrates on companies mostly in Norway also throughout the Nordic countries.<br><br>Sale of Finland's largest healthcare provider, Terveystalo, simply by Bridgepoint for $650m to Conni Jonsson's EQT and sale of WERU through Triton Partners, managing partner [http://www.zoominfo.com/p/Peder-Prahl/1742879454 Peder Prahl], to H.I.G. Capital were among the notable investments in Nordic areas.