Norvestor invests in Advantec
Norwegian private equity firm Norvestor has invested in oil service company Advantec.
Advantec is a supplier of electro hydraulic control systems to the subsea oil and gas market. Founded in 2005, the business generated revenues of NOK 180m in 2009. In addition to its headquarters in Stord, the company has offices in Stavanger and Houston.
The investment was made from Norvestor's fifth fund which closed in 2007 on EUR 236m.
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