Segulah acquires Øglænd Industrier for near NOK 1bn

The transaction, which is subject to competition authority approval, is Segulah IV's eighth investment. Norwegian families Hoff, Austigard and Øglænd are the main sellers.

Founder Gunnstein Austigard will remain as a significant minority owner in Øglænd Industrier following the transaction, together with management and other current owners. Lars Brodd will be appointed new chairman of the board when the transaction is completed.

Øglænd Industrier was acquired by Gunnstein Austigard, Roald Hoff and the Øglænd family in 1990.

Company
Headquartered in Stavanger, Norway, Øglænd Industrier develops, manufactures and sells support solutions, cable trays and cable ladders to the oil & gas, infrastructure, ship building, wind power, water treatment and cleanroom industries.

Øglænd Industrier has 13 subsidiaries with manufacturing facilities in Norway, Malaysia and China. The company has a presence in more than 50 countries and generates 60% of its sales outside of Norway. With 300 employees, Øglænd Industrier is estimated to be generating a turnover of NOK 860m.

People
Percy Calissendorff and Marcus Planting-Bergloo led the deal for Segulah. Geir Austigard is the CEO of Øglænd Industrier.

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