Verdane exits TeamTec to IMS

In addition to the acquisition of TeamTec Invest, the deal also includes buildings and property related to TeamTec premises at Tangen in Tvedestrand.

TeamTec is currently owned by Verdane Capital IV Twin AS, managed by Verdane, and the company's employees: more than 40% of TeamTec was hitherto owned by 35 employees investing through the TeamTec Partners AS vehicle. Verdane has been a shareholder in TeamTec since 2006.

Company
Founded in 1987 in Norway, TeamTec develops, manufactures and markets equipment for the shipping industry worldwide. The company has a global market share of around 30% for on-board furnaces and equipment for waste incineration. In addition, TeamTec manufactures and markets stripping ejectors (eductors), which are jet pumps driven by water or oil supplied from conventional pumps.

Approximately 70% of the company's revenue comes from the sale of equipment, with the remainder generated after-market. In addition to its offices in Tvedestrand, TeamTec operates offices in Singapore and Shanghai, and has a manufacturing co-operation with NLMC in China.

People
Roy Langseth is the CEO of IMS. Olav Voie is the CEO of TeamTec, while Rolf A Schoning is the CEO of TeamTec Partners AS. Arne Handeland is a partner at Verdane.

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