Investinor and BW Ventures back OceanSaver

The investors have acquired the stakes held by a consortium of shareholders including Energy Capital Management, Storebrand, Höegh Autoliners Management AS, Fednav Limited and Sumitomo Corporation. In addition to acquiring the shares, the investors have agreed to inject capital to support growth and an international expansion. An initial NOK 40m has been made available for this purpose.

The deal originated after OceanSaver and its previous shareholders contacted Investinor, which had been following the company for some time.

Investinor was attracted to the deal because they believe the company is set to grow due to new legislation regarding the treatment of ballast water that is set to come into play in 2012. The company is also said to have a leading position in the global market for treatment of ballast water.

Company
OceanSaver AS was founded in 2003 and is a ballast water management systems provider. The company aims to address the problem of the introduction of invasive marine species found in ships ballast water.

The company is headquartered in Drammen, Norway.

People
Investment director Steinar Fossen will represent Investinor on the company's board of directors.

Advisers
Equity – KPMG (Financial due diligence); Arntzen de Beche (Legal); Din Utvikling (HR due diligence).

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• Topics
• Nordics
• Industrials
• Expansion
• Norway
• KPMG