Cegal Group announces acquisition of Envision AS

OSLO: Cegal Group AS has signed an agreement to acquire all the shares in Envision AS, a news release said.

Cegal is fully owned by Chip Bidco AS, again majority owned by Norvestor SPV I Holding AS. Envision delivers consultancy services, training, data and information management and software solutions to the energy industry.

This acquisition will further strengthen Cegal`s unique market position by bringing additional domain knowledge, competence and know-how to meet the requests and needs of our customers.

“The growth in data is enormous and with domain skills we see a lot of opportunities in helping our customer extract greater value from data. Joining forces with Cegal gives us an opportunity to continue and broaden our business with a larger footprint. Our skills, culture and services are a perfect match for our joint journey”, says CEO in Envision, Åge Løklingholm.

The two companies have complementary product offerings towards the same primary markets, and this will underpin Cegal´s strong position on the Norwegian Continental Shelf, which is an important contribution to fuelling our international growth.

“We will continue to build concepts and solutions around software, digitalization, consulting and managed services, all by utilizing the skill set and deliveries that has brought our two companies to where we are today. The only change is that as of today we will do it together, and I am very happy to have the Envision team onboard!”, CEO in Cegal, Svein Torgersen explains.

Cegal is a trusted global digitalization partner delivering cloud solutions, software applications, and consultancy services within IT and operations, business, science and data management. The combination of IT and industry domain expertise makes us a unique IT and software solutions provider to the Oil & Gas, Renewables and Ocean Industries. www.cegal.com

Envision delivers consultancy services, training, data and information management and software solutions to the exploration and production community. At your service is a team of highly qualified technical specialists offering skills within geology, geophysics, reservoir engineering, programming and application support. www.envision.no

Norvestor is a leading private equity firm focusing on mid-market buyouts in the Nordic region with offices in Oslo, Stockholm, Helsinki, Copenhagen and Luxembourg. The team has worked together since 1991 making it one of the most experienced private equity teams in the Nordics, having executed 76 investments with more than 300 follow-on M&A transactions, in addition to executing 52 exits including 15 IPOs.

The Norvestor funds seek to invest in growth companies in the Nordic mid-market that have potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries and by geographic expansion. www.norvestor.com

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