CapMan Buyout invests in Acona

The acquisition is expected to close in January 2013. The investment in Acona is the last from the CapMan Buyout IX fund. CapMan's next buyout investment will be made from the CapMan Buyout X fund, established in November 2012.

Acona is CapMan's first investment in the oil services industry. IKM Invest AS, Acona's main shareholder prior to the buyout, had been involved with Acona since the inception of the company.

Company
Acona is the result of a series of mergers of 11 Norwegian companies, providing niche competence services to the oil and gas industry since 1987. Acona CMG AS and Wellpro AS merged in 2009.

Acona provides consultancy services within the area of well operations, drilling, risk, HSE, flow analysis and emergency response. The company is headquartered in Stavanger, Norway, and has branch offices in Oslo, Bergen, Skien and Tromsø in Norway; Great Yarmouth and Aberdeen in the UK; and Baku in Azerbaijan.

Acona employs more than 370 people and turnover for 2012 is expected to reach an estimated NOK 800m.

People
Hans Tindlund is a partner and investment manager at CapMan Buyout. Oddbjørn Kopperstad is the CEO of Acona. Ole Rettedal is the CEO of IKM Invest.

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