Apply Steelcad sold to Havyard
Apply Group has, through its subsidiary Apply Sørco AS, sold Apply Steelcad AS to Havyard Design AS, a company in Havyard Group. Apply Steelcad AS supplies engineering services to ship consultants and shipyards in Norway and internationally.
The company has been owned by Apply Sørco since 2007 and has 27 employees in Norway, as well as interests in engineering companies in both Poland and Croatia.
Apply Steelcad will change its name to Havyard Steelcad AS following the completion of the transaction and will be located in Stavanger, with Erik Kirkemo as continuing CEO.
Read more
| Fund | HitecVision Private Equity IV LP Argentum share 21.83% |
| Portfolio Company | Apply Group |
| Date of Transaction | 2010-02-23 |
| Transaction | Spin-out |
| Seller | Apply Sørco |
| Buyer | Havyard Design |
| Size of Transaction | |
| Ind. Focus | Energy |
| Geography | Norway |
| Stage | Small/mid-cap buyout |