Independent journal on economy and transport policy
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The Norwegian Herkules Private Equity will buy the compatriots Umoe Schat-Harding and Noreq
the two companies are specialized in the production and commercialization of equipments and apparatuses for safety of the marine transport
June 11, 2013
The bottom of private Norwegian equities Herkules Private Equity has signed agreements in order to buy the compatriots Umoe Schat-Harding and Noreq, two companies specialized in the production and commercialization of equipments and apparatuses for safety of the marine transport. The understanding, that it is signed yesterday, previews that in the first half of the next Herkules month it acquires the Umoe Schat-Harding with the cooperation of the owners of the Noreq which, meanwhile, will sell their society to the Herkules having plowed back a quota consisting of the proceeds in a new holding company of common participation.
The bottom Herkules Private Equity Fund III will be the main shareholder of the new society. Styrk Bekkenes, managing director and founder of the Noreq, will be the main investor in the new enterprise after the Herkules. Bekkenes has emphasized as the Schat-Harding and the Noreq are two complementary companies and as, since currently the world-wide market of the rescue equipments is a lot fragmented, are an obvious necessity of society of greater dimensions and solidity.
Umoe Schat-Harding and Noreq will conclude the exercise anniversary with total revenues for about 1,2 billion Norwegian crowns (157 million euros). The Schat-Harding is constituted in 1986 and is a branch of the Norwegian investment trust Umoe, while the Noreq is constituted in 2006.
"They have been the owner of the Umoe Schat-Harking for 26 years - it has commented the president and managing director of the group Umoe, Jens Ulltveit-Moe - and, even if the society has lived some years of difficulty, the dependent and management of it has decreed the success, so much so that now it is on the road of the economic increase. Year 2012 - it has specified - has been the best one in the history of the company. Now it is right time in order to carry within new owners with competences and capitals. I am convinced that the combination with the Noreq will strengthen the two companies and that the Herkules will be an optimal owner who will contribute to the continuous and fast increase and the development leaving from a Norwegian center".
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The bottom of private Norwegian equities Herkules Private Equity has signed agreements in order to buy the compatriots Umoe Schat-Harding and Noreq, two companies specialized in the production and commercialization of equipments and apparatuses for safety of the marine transport. The understanding, that it is signed yesterday, previews that in the first half of the next Herkules month it acquires the Umoe Schat-Harding with the cooperation of the owners of the Noreq which, meanwhile, will sell their society to the Herkules having plowed back a quota consisting of the proceeds in a new holding company of common participation.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
