Stavanger, 19 August 2014.
Halvorsen Group AS (“Halvorsen” or the “Group”) announced today the strengthening of its subsidiary Halvorsen Offshore AS (“HO”) through the acquisition of a majority shareholding in IPE AS (“IPE”). IPE, based on Søgne, Norway, is a leading provider of engineered electroinstrumentation solutions to a wide variety of customers in the oil, gas and marine industries. These capabilities complement HO’s existing product portfolio and augment the broader Group’s ability deliver fully engineered process equipment solutions.
Since IPE’s founding in 2012, HO and IPE have closely cooperated in order to deliver a number of high-value process packages to key customers on the Norwegian Continental Shelf. This transaction represents the next step for this relationship and will bring material benefit to both parties.
Frode Olsen, Managing Director of HO, commented “We are delighted to have IPE as part of our team. Their organization adds complementary engineering capabilities to our own existing capabilities, and, in particular, brings strong electroinstrumentation disciplines. We already know IPE well though past cooperation and look forward to investing and growing our business in the Kristiansand region.”
“By becoming a part of Halvorsen Group, IPE can leverage its expertise across a wider customer base, as well as bring substantial relationships and a strong track record in the electroinstrumentation space to bear”, said Trond Larsen, Managing Director of IPE AS. “Together with HO, we will focus on maximizing our pipeline of high-quality projects and on the recruitment of more skilled personnel as our footprint grows.”
Managing Director, Halvorsen Offshore AS
+47 992 85610
Managing Director, IPE AS
+47 900 73490
CEO, Halvorsen Group
+47 908 56334
About IPE AS
Headquartered in Søgne, IPE has special expertise in engineering services for electrical instrumentation and automation, monitoring and control of key elements of process systems, installation and supervision services as well as chemical injection systems. IPE also has extensive experience with chemicals to remove water from natural gas.
About Halvorsen GROUP
Established in 1842, Halvorsen provides specialised pressure and temperature technology, waste heat recovery systems, gas turbine auxiliaries, power systems and associated engineering services to a broad range of international energy clients. The Company is headquartered in Stavanger, Norway, with additional locations in Kvinesdal and Oslo, Mosonmagyaróvár, Hungary and Houston, USA. Halvorsen employs approximately 500 staff.
For more information visit www.halvorsen.no.