October 9, 2012
October 9, 2012
EQT Infrastructure Funds to acquire Norwegian offshore high capacity communication operator Tampnet from HitecVision in a transaction valued at around NOK 1.5 billion.
Tampnet operates the largest offshore high capacity communication network in the world and serves more than 100 O&G Platforms, Floating Production Storage and Offloading units (so called FPSOs) and Exploration Rigs in the North Sea. In total, the Company owns and operates an infrastructure of 1,200 km of fiber network and 31 radio links and leases capacity in an additional 900 km of fiber.
“Tampnet is a well-managed company with an impressive track record of growth and a satisfied, loyal customer base. Demand for offshore high capacity communication is increasing as operations onshore and offshore are becoming increasingly integrated and complex. We see strong organic growth in the North Sea but also international opportunities as North Sea operations serve as quality benchmarks in the global offshore industry”, says Stefan Glevén, Partner at EQT Partners in Sweden, Investment Advisor to the EQT Infrastructure Funds.
Tampnet serves both the Norwegian and UK parts of the North Sea and has a unique infrastructure which provides redundancy to its customers and links the North Sea basin to UK and Norway. Headquarters are in Stavanger in Norway.
“We are excited about having the EQT Infrastructure Funds as new owners. EQT brings vast industrial knowledge from both the communication and O&G sectors. We will also be able to take advantage of the expansion opportunities that lie ahead, given EQT’s willingness to financially support growth”, says Per Helge Svensson, CEO of Tampnet.
The transaction is subject to merger clearance from Norwegian competition authorities.
The EQT Infrastructure Funds were supported by DnB as Corporate Finance Advisor, Selmer as Legal Advisor, and PWC as Financial and Tax Advisor.
Stefan Glevén, Partner at EQT Partners,
Investment Advisor to the EQT Infrastructure Funds
+46 8 506 55 316
EQT Infrastructure Funds Spokesperson
+46 8 506 55 334
EQT is the leading private equity group in Northern Europe with over EUR 19 billion in raised capital and multiple investment strategies. Together with an extensive network of independent Industrial Advisors, EQT implements its investment strategy by acquiring or financing good medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, supporting their development into leading companies. Development is achieved by an industrial strategy with focus on growth. Since inception, EQT has invested more than EUR 11 billion in around 100 companies and exited close to 50. EQT-owned companies have more than 550,000 employees.
EQT Infrastructure is a EUR 1.2 billion fund, launched 2008, investing in medium-sized infrastructure businesses in the Nordic region, parts of Continental Europe, and North America. Investment targets are regulated infrastructure, concession-based infrastructure, market-based infrastructure and infrastructure-related services. EQT Infrastructure II is the second fund within the infrastructure investment strategy. EQT Infrastructure II currently has EUR 1.1 billion of commitments available for investments.
EQT Partners, acting as Investment Advisor to the general partners and managers of each EQT fund, has around 120 investment professionals with an extensive industrial and financial competence. EQT Partners and its affiliates have offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se
Tampnet operates the largest offshore high capacity communication network in the world, serving more than 100 Oil and Gas Platforms, FPSOs and Exploration Rigs. Pioneering the industry, Tampnet has developed a high capacity, resilient and low latency communication network of fiber backbone cables and radio links, serving both the Norwegian and UK sector. Tampnet is an authorized telecommunications operator in Norway and in Australia. Tampnet was established by Statoil in 2001 and acquired by HitecVision in 2010.
HitecVision is a leading investor in the international oil and gas industry, providing capital and competence to growth companies in Europe and North America. The firm’s background from the industry enables it to create value by partnering with entrepreneurial managers to build substantial and sustainable companies. HitecVision is a serial entrepreneur having acquired, invested in or established more than 100 companies, exited over 70, and listed seven companies (IPOs). HitecVision manages four funds with a total committed capital of USD 3 billion and is headquartered in Stavanger with offices in Oslo and Houston.