Friday 4. August 2023
Five companies create new, nationwide group within diving and shallow water services
The regional leading diving companies Dykkerteknikk AS, IMC Diving AS, EB Marine AS, Anleggsdykk AS, and Olav Erik Hagen AS with their subsidiary Norwegian Tunnel Inspection AS have formed a new, nationwide diving services group. The group will become one of Norway’s leading players within shallow water diving and adjacent subsea services, with the highest quality in the marked on both safety and deliverability.
The group can utilise each company’s expertise, technology, and equipment park to offer a wider spectrum of quality services both nationally and internationally. The group will professionalise and improve the HSEQ management, documentation, and tender processes.
Each company will continue to offer their services to current and new customers locally as separate regional divisions, as well as they will now be able to offer national services as a group. The companies also have a cutting-edge expertise that makes it natural to consider internationalisation within some areas.
Combined, the group delivered revenues of NOK 406m in 2022 and has, for the last five years, grew more than 14% annually. The group has more than 100 employees distributed among locations in Tofte, Stryn, Bergen, Stavanger, Horten and Kristiansand. A new name for the group will be announced shortly.
«Together as a group, we will continue to build on the sound foundation that has been put down in all the decades we have been operating. The goal is to continue the work in strengthening our position and become the preferred provider to our customers”, says Jørn Oksnes, CEO IMC Diving AS.
«As a combined group, we can share technology, equipment and divers in a more appropriate way that will lift the total quality of our services. We see a large potential in further developing each company’s ROV and trenching solutions, both regarding the software and hardware” says Fredrik Breiby, CEO Dykkerteknikk AS.
«Our customers are still our first priority, and we will ensure that the customer relationships remain as strong in the new group, where we can deliver even better shallow water services than before” says Olav Erik Hagen, CEO Olav Erik Hagen AS.
Longship Fund II LP («Longship”) has been a catalyst for this consolidation and will enter as a majority owner in the new group. The current managers and main shareholders have great confidence in the new group’s development and will become significant owners in the new constellation.
«Longship is proud to get the trust from today’s owners to be part of establishing a leading player in the industry. Together, we have started to assemble the best companies within shallow water services in Norway to create a platform for further growth, consolidation, and development of maritime services” says Espen Stenumgård, partner in Longship.
Longship was advised by PwC and Wiersholm.
For further information, contact:
Espen Stenumgård, Partner, Longship AS
+47 992 44 678
espen.stenumgard@longship.no
Fredrik Breiby, CEO, Dykkerteknikk AS
+47 928 20 400
fredrik.breiby@dykkerteknikk.no
Jørn Oksnes, CEO, IMC Diving AS
+47 901 07 833
Jorn.oksnes@imc-diving.no
Olav Erik Hagen, CEO, Olav Erik Hagen AS
+47 917 76 663
Olav.erik@oehagen.no
Torbjørn Erga, Daglig leder, EB Marine AS
+47 901 82 678
erga@ebmarine.no
Thor-Øyvind Ødegaard, CEO, Anleggsdykk AS
+47 400 84 099
to@anleggsdykk.no
About Longship:
Longship is a Norwegian private equity investor established by a group of experienced investment professionals in 2015. Longship identifies and invest in companies with significant growth potential in the Norwegian lower mid-market and are applying a transformational growth approach. The investment team currently consists of twelve professionals, making it the leading player in the Norwegian lower mid-market.