Buyout fund Norvestor invests in Norwegian Advantec
Private equity firm Norvestor has invested in oil service company Advantec, located in Stord, Norway.
Advantec is a supplier of electro hydraulic control systems to the subsea oil and gas market. The company was founded in 2005 and in 2009 the business generated revenues of NOK 180 million and had a staff numbering 120.
In addition to its headquarters in Stord, the company has also offices in Stavanger and a daughter company in Houston, USA.
The investment was made from Norvestor's fifth fund, Norvestor V.
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| Fund | Norvestor V Argentum share 15.8% |
| Portfolio Company | Advantec |
| Date of Transaction | 2010-03-30 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | |
| Ind. Focus | Energy |
| Geography | Norway |
| Stage | Small/mid-cap buyout |