HitecVision sells Aarbakke to Westco Investering

The GP exits the company after a holding period of 14 years, alongside founder Inge Brigt Aarbakke.

According to Dagens Næringsliv, the deal values the company at NOK 700m (€67m), and that Stavanger-based family Jacobsen is behind Westco Investering.

Dagens Næringsliv in December 2019 reported that Aarbakke was up for sale and that it had a turnover of around NOK 930m (€94m) in 2019. 

Company
Founded in 1981 and based in Bryne, Aarkbakke is a B2B provider of services to the oil and gas industry, including manufacturing, engineering, machining, clad welding, assembly, testing and documentation. The company reportedly generated revenues of NOK 930m in 2019. 

People
Aarbakke – Inge Brigt Aarbakke (founder).
HitecVision – Atle Eide (senior partner).

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