Norvestor to Become PG’s Largest Shareholder
Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS. The transaction is expected to close end of October 2014, subject to customary approval from the Norwegian Competition Authorities. Following the acquisition, Norvestor will become the largest shareholder in PG with about 63 % of the shares, while the remaining shares will be held by Mads Gjerdrum and Roy Norum. The company had revenues of NOK 552 million in 2013.
Offshore, Equipment & Partnerships, too
W&O caps a busy year with two additional deals intended to penetrate the busy offshore markets with cutting edge products. For many, the recently announced W&O Supply partnership agreements might come as just another piece of news in the busy marine markets. For starters, however, W&O Supply is now the exclusive sales agent for PG Marine Group – Ing Per Gjerdrum AS – in North America. Separately, Bestobell Valves, part of the President Engineering Group (PEGL), also named W&O Supply as its exclusive distributor for Bestobell Valves in North America. Finally, and in concert with PG Marine in a 3-way partnership, W&O was also named as the exclusive North American sales distributor for the Hyde GUARDIAN Ballast Water Treatment solution (BWTS) to the marine industry.
W&O Named Exclusive North American Sales Agent for PG Marine Group
W&O Supply, a global supplier of marine and upstream oil and gas pipe, valves and fittings, valve automation, and engineered solutions, has been selected by PG Marine Group – Ing Per Gjerdrum AS as its exclusive sales agent in the U.S. and Canada. As an industry leader in cargo handling systems for Offshore Service Vessels (OSV) and Special Tankers (heavy chemicals, bitumen, and liquid sulphur), PG Marine Group’s offerings range from simple pumps and pumping systems to automated, bridge-integrated computerized solutions. With PG’s state-of-the-art products and systems, and W&O’s vast footprint and customer relationships, both companies recognized the significance a partnership could bring to their clients and the industry.
