About Products & Services HSEQ News Flux Companies Contact About Products & Services HSEQ News Flux Companies Contact Flux Group acquires Vest Ventil and strengthens valve commitment January 2015 Stavanger 12 January 2015: Flux Group has acquired all of the shares in the Bergen-based valve company Vest Ventil. This is the third acquisition since August 2014, and the transaction strengthens Flux Group’s position as a supplier of equipment to oil and gas companies on the Norwegian continental shelf (NCS). Established by private equity company HitecVision in the spring of 2014, Flux Group has a strategy of acquiring and further developing companies with attractive positions in selected niches of the oil and gas industry’s sub-supplier market. The group has an expressed growth strategy and has had a strong start with the acquisitions of valve company Valvision and pipe-supplier Norwegian Piping in August and October 2014 respectively. Valvision and Vest Ventil complement each other in terms of products and services. Collectively they provide Flux Group with a complete range of valves and associated services. “Vest Ventil secures access to important types of valves, and brings with it significant experience of maintenance work on various valve installations”, says CEO Ådne Grødem in Flux Group. “This is an important step in strengthening our position in becoming a leading “one-stop-shop” player to the oil and gas industry on the NCS. We see significant synergy potential in coordinating existing frame and collaboration agreements for our customers.” Vest Ventil was established in 1996 and has built a solid position as a competent supplier of valves and other equipment to the oil and gas industry. The company collaborates with recognised international dealers and manufacturers, and has broad experience of valve maintenance, testing and certification. Vest Ventil is located at Godvik outside Bergen and has seven employees. “Our new owner is the ideal partner, which will give us opportunities for expanding and complementing our offer to the market”, says Morten Rabben, Managing Director of Vest Ventil. “Flux Group provides us with a solid foundation for further growth, which will benefit both customers and employees. We face an exciting future”. Through its three acquisitions in a short space of time, Flux Group has taken solid positions in selected segments of the oil service industry. The 2014 consolidated turnover for the Flux Group exceeded NOK 700 million. “We have laid a solid foundation for organic development of our existing operations, and we have also drawn up plans for continued expansion in coming years”, says Grødem. For more information or questions, please contact: Ådne Grødem, CEO, Flux Group, tel: +47 907 53 999 More information about Vest Ventil: www.vestventil.no Latest news May 2015 Flux Group awarded Johan Sverdrup contract Stavanger 11 May 2015: Statoil, as operator for the Johan Sverdrup field in the Norwegian North Sea, has awarded Flux Group a contract to deliver valves to this major field development. The initial contract value is NOK 60-70 million. May 2015 Norwegian Piping expands its product portfolio with Spring Hangers and Pipe Supports from Quality Pipe Supports (QPS) Ltd, UK 27th April 2015: Norwegian Piping has entered an exclusive agreement with Quality Pipe Supports (QPS) to include Spring Hangers and Pipe Supports in its product portfolio and market the products in Norway and Korea. January 2015 Flux Group acquires Vest Ventil and strengthens valve commitment Stavanger 12 January 2015: Flux Group has acquired all of the shares in the Bergen-based valve company Vest Ventil. This is the third acquisition since August 2014, and the transaction strengthens Flux Group’s position as a supplier of equipment to oil and gas companies on the Norwegian continental shelf (NCS). October 2014 Flux Group acquires Norwegian Piping Flux Group has entered into an agreement to acquire all the shares in Bergen-based Norwegian Piping. This is the second acquisition by Flux in the space of a few months, and an important step in realising the Group’s strategy of becoming a leading supplier of equipment and services to the oil and gas industry. June 2014 The HitecVision funded company Flux Group acquires IKM Valves Flux Group, a newly founded company owned by HitecVision, has agreed to acquire IKM Valves. The acquisition is a testament to Flux Group’s ambition to invest in and further develop IKM Valves. The management and all employees in the newly acquired company will stay on. News Archive LOCATION & CONTACT Moseidsletta 122 Stavanger, Norway P.O. Box 8120 4068 Stavanger post@fluxgroup.com +47 47 88 22 22 KEY TOPICS About Products & Services HSEQ News Flux Companies Contact FLUX GROUP VALVES Valvision Vest Ventil PIPING Norwegian Piping Privacy policy © COPYRIGHT FLUX GROUP LOCATION & CONTACT Moseidsletta 122 Stavanger, Norway P.O. Box 8120 4068 Stavanger post@fluxgroup.com +47 47 88 22 22 FLUX GROUP VALVES Valvision Vest Ventil PIPING Norwegian Piping