NORWAY - HitecVision to invest in Poseidon Group

HitecVision Private Equity has invested in Poseidon Group, a supplier of engineering, system solutions, technology and consultant services within construction, operations and maintenance of subsea oil and gas fields. The investment gives HitecVision a 40% ownership of the company, and they have scheduled for additional investments through their fund HitecVision Private Equity IV LP. Current shareholders and HitecVision will invest NOK 200m in Poseidon to build the company through acquisition and growth. The final closing is subject to satisfactory due dilligence.