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Advantec

Investment date: April 2010

Industry: Energy & Marine

Fund: Fund V

Exit Date: November 2015

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Under Norvestor ownership, Advantec grew to become a leading provider of subsea intervention equipment and associated life-of-field services for the global oil & gas industry. Norvestor acquired the company in 2010, with favourable industry outlooks and growing demand for Advantec’s services; reducing the cost of subsea field development. Through a combination of geographical expansion, add-on acquisitions and broadening of its life-of-field service offering, including the establishment of a fleet of rental units, the Company built a leading market position. Advantec was sold to GE Oil & Gas in 2015.