EV Private Equity-backed EWT acquires IKM

IKM Cleandrill was sold for NOK 300-400m, according to DN Investor.

EV Private Equity is currently investing from Energy Ventures IV, which closed on €247m in 2011.

Shell Ventures is also invested in EWT. The vendor of the shares in IKM Cleandrill is Ståle Kyllingstad, the owner of IKM Group, which owned 67% of shares. The group also owns a stake in EWT.

EWT acquired Enhanced Drilling from Altor Equity Partners in August 2019, which the company plans to merge with IKM Cleandrill.

Company
Headquartered in Bergen, Norway, IKM Cleandrill is a specialist provider of riserless mud recovery services. The company specialises in the field of sub-sea drilling fluids management and develops riserless mud recovery technologies. IKM Cleandrill was founded in 2010 and joined the IKM Group in late 2011. In addition to its headquarters, the company has bases in Perth, Australia, and Aberdeen, UK.

People
EV Private Equity Partners – Helge Tveit (managing partner).
IKM Group – Ståle Kyllingstad (CEO).

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