Norvestor divests Future Production

Norvestor VI L.P. (“Norvestor”), via its holding company Future Production Holding AS, has divested Future Production AS and its subsidiary (together “Future Production” or the “Company”) to the Dutch industrial group Huisman.

Founded in 1999 and headquartered in Kristiansand, Norway, Future Production is a global provider of product-based solutions to the offshore maintenance, modification and operations (MMO) segment. Its solutions are built on modular designs adapted to each rig and platform, and the Company has made more than 650 deliveries to over 90 rigs worldwide.

Since partnering with the founders and management in July 2013, Norvestor has supported Future Production in further strengthening its management team, growing the organization from 11 to around 40 employees and broadening its offering of proprietary products and tailor-made solutions. The Company’s design and engineering capabilities have also been proven in adjacent industries, including the hydropower industry.

“We have invested in our team also during the prolonged downturn in our industry because we knew competence would make the difference when activity returned. We believe the rig market will stay strong and many rigs will need upgrades. Norvestor has been a very committed and supportive owner during their ownership. We now look forward to developing the company further as part of the Huisman group,” says Torstein Bringa, CEO of Future Production.

“We invested in Future Production for its engineering expertise and asset-light business model, which has proven its strength over time. We are very pleased with the Company’s development in recent years, and Huisman’s acquisition is a strong recognition of what Torstein and his team have built,” says Trond Bjørnøy, Partner & Chair at Norvestor Advisory.

Norvestor was advised by Pareto Securities, BAHR and PwC.

The transaction has been closed.