HitecVision Strengthens its Exploration and Production Team
20.08.2010
HitecVision is pleased to announce the strengthening of the company’s focus on E&P, through the addition to the team of Harald Vabø and Svein Arild Killingland. Both have significant experience from the Norwegian Oil and Gas industry, and will complement HitecVision’s existing investment team.
HitecVision reports half year 2010 results
19.08.2010
HitecVision's report for the first six months of 2010 is now available for download.
HitecVision announces new USD 420 million Fund
02.06.2010
HitecVision, Europe’s largest private equity investor focusing exclusively on the oil and gas industry, announced today that it has accepted commitments of USD 420 million for its new fund, HitecVision Asset Solutions, exceeding the original USD 320 million target. The new Fund will invest in companies in the asset-based side of the international offshore oil and gas service industry, typically owners and operators of such assets as drilling rigs, supply vessels, subsea construction vessels, etc.
05.03.2010
As of 8th March 2010, HitecVision's Oslo office will be located at Dronning Mauds Gate 11, 0250 Oslo. Our telephone number remains the same.
Another good year for HitecVision: 2009 results announced
03.03.2010
HitecVision AS has had another active year. The company's 2008 revenues were NOK 188 million, and net income after taxes, before minorities' shares of income was NOK 106 million. Net income after tax and minority shares was NOK 81 million. The Board proposes a dividend of NOK 70 million, corresponding to NOK 3.80 per share.
Tor Espedal joins HitecVision as Senior Partner
22.02.2010
HitecVision is pleased to announce the strengthening of its specialist oil and gas investment team. Tor Espedal brings more than 22 years of international oil and gas experience to HitecVision. Espedal comes from the position as Vice President of Subsea7’s activities on the Norwegian Continental Shelf.
Good results and continued growth for HitecVision in the first six months of 2009
27.08.2009
Stavanger, 27st August 2009: HitecVision continues its growth, both in revenues and profits. Revenues for the first six months of 2008 were NOK 123.5 million, against 88.2 million for the corresponding period in 2008. Net income after tax and minority interests was NOK 60.8 million, against NOK 40.8 million for the first six months of 2008. Total commited capital in funds advised by HitecVision was NOK 7.8 billion.
Pål Reiulf Olsen joins HitecVision as Senior Partner
29.06.2009
HitecVision is pleased to announce a new strenghtening of its specialist oil and gas investment team.
Arne Trondsen elected to board of NVCA
26.05.2009
On the 25th May 2009, Arne Trondsen of HitecVision was elected to the board of the Norwegian Venture Capital and Private Equity Association.
HitecVision announces 2008 results - another good year
29.04.2009
HitecVision AS has had another active year. The company's 2008 revenues were NOK 262 million, and net income after taxes, before minorities' shares of income was NOK 181 million. Net income after tax and minority shares was NOK 121 million. The Board proposes a dividend of NOK 110 million, corresponding to NOK 5.97 per share.
HitecVision wins award for Noreco exit
21.11.2008
Paris, 21st November 2008: HitecVision received the Real Deals & EVCA's European Private Equity Award in the Nordic market for the partial exit of Noreco. HitecVision made the investment in Noreco in 2005, and realised parts of its holding in the company in June 2008.
Payment of extraordinary dividend and change of company name
18.11.2008
The shareholders of HitecVision has in an extraordinary general meeting resolved to pay an extraordinary dividend of NOK 40 million and to change the company name to HitecVision AS.
HitecVision acquires 12,000 own shares
22.09.2008
On 19th September 2008 HitecVision acquired 12,000 own shares in the market at a price of NOK 55 per share. Following the transaction HitecVision holds in total 12,998 own shares.
26.08.2008
HitecVision's report for the first six months of 2008 is now available.
HitecVision co-hosts ONS Energy Finance Symposium on 28th August
22.08.2008
For the fourth time ONS, StatoilHydro and HitecVision are organising this finance-focused event, which has found its place alongside the otherwise more technologically-oriented ONS programme.
Continued strong growth for HitecVision in the first six months of 2008
21.08.2008
HitecVision Private Equity AS (NOTC-A: HITP) announced today that the company achieved revenues of NOK 88.2 million the first six months of 2008 and profits of NOK 40.8 million. Assets under management amounted to NOK 6.7 billion.
HitecVision sponsors the Norwegian Society for Sea Rescue Summer School for children
25.07.2008
As part of HitecVision’s annual sponsor program the firm has contributed NOK 100,000 the NSSR's Summer School in Stavanger. The sponsorship has been used to purchase a Zodiac RIB. This is the first year in operation for the Summer School in Stavanger, giving children aged 9 to 12 years the opportunity to enjoy a week each learning seamanship and sea sense.
HitecVision sells part of Fund III Portfolio
10.07.2008
HitecVision announced today that it has sold three investments from HitecVision Private Equity III to Cubera Private Equity, a secondaries specialist.
HitecVision buys back 1,145,450 own shares
05.06.2008
HitecVision Private Equity AS has resolved to buy back 1,145,450 shares further to 111 acceptances received by the expiration of the offer period. The settlement for the shares will be executed by 13th June 2008.
02.06.2008
Reference is made to the offer letter submitted by HitecVision Private Equity on 14th May 2008 regarding purchase of up to 1,841,428 own shares.
The offer period expired on 30th May 2008 at 16:00. HitecVision Private Equity has received 112 acceptance forms totalling 1,140,937 shares at the offered price of NOK 55 per share.
HitecVision submits offer to buy back own shares
14.05.2008
Pursuant to the resolution made in the General Assembly on 5th May 2008 HitecVision Private Equity AS (NOTC: HITP) has today submitted an offer to its investors to buy back up to 1,841,428 shares.
14.05.2008
HitecVision is currently recruiting for Investment Directors (Industry) and Financial Analysts. For further details, please see Team/Vacancies
HitecVision Annual Report 2007
28.04.2008
Stavanger, 28th April 2008: HitecVision announces operating revenues of NOK 86 million and a net result of NOK 80 million for 2007.
HitecVision hard caps new fund at USD 800,000,000 following heavy oversubscription
28.02.2008
HitecVision announced today that it has received commitments of USD 800 million for its new fund HitecVision V, exceeding the original USD 600 million target. Following strong support from existing investors and significant interest from new international investors the fund was heavily oversubscribed.
HitecVision at student gathering in Stavanger on 28th December
13.12.2007
HitecVision will have a stand at Greater Stavanger Economic Development's gathering for ANSA students at Hall Toll on Friday, 28th December.
Jon Gjedebo voted Entrepreneur of the Year
28.11.2007
Jon Gjedebo, co-founder and Chairman of HitecVision, has been voted Ernst & Young Entrepreneur of the Year 2007 in Norway.
HitecVision announces half year results 2007
23.08.2007
HitecVision sponsors Pia Myrvold
12.05.2007
HitecVision is the proud sponsor of multi-artist Pia Myrvold’s exhibition at Rogaland Kunstmuseum from November 2007 to February 2008.
08.03.2007
As of 12th March 2007, HitecVision's head office is located at Jåttåvågveien 7, Stavanger, Norway. Our postal address and telephone numbers have not changed.
Per Hatlem has joined HitecVision as Investment Manager
05.03.2007
Hatlem’s exensive experience includes 14 years within the E&P industry working 10 years for Norske Shell and Statoil on R&D project management and commercialization and 4 years as CEO of the listed oil services company Norwegian Applied Technology ASA. Hatlem has also been the CEO of Comrod AS, a leading manufacturer of highly specialized antennas, masts and power supply mainly directed at the defence and marine markets world wide, and the CEO of the international food producer and supplier Danica Foods Group AS.
Hitec-founder Jon Gjedebo receives OTC Heritage Award
02.03.2007
Stavanger, 2 March 2007: Jon Gjedebo, co-founder of the Hitec group and HitecVision Private Equity, has been honoured with the OTC Heritage Award for his contributions to the technological development in the offshore industry.
HitecVision expands to Houston
16.02.2007
Stavanger, 16th February 2007: In response to increased deal flow and growing interest from investors in the United States and Canada, HitecVision is opening an office in Houston, Texas.
High activity level and strong result for 2006
15.02.2007
Stavanger, 16 th February 2007: HitecVision announces net income of NOK 132 million for 2006 and dividend of NOK 100 million.
HitecVision wins Nordic Private Equity Award
29.11.2006
HitecVision is pleased to announce that at the 2006 Nordic Unquote" Private Equity Awards, it was awarded the Mid-Market Exit of the Year for the exit from Scandpower Petroleum Technology.
HitecVision announces investment in Noble Denton
26.09.2006
Stavanger, 25. September 2006:
HitecVision today announces an investment in international marine and engineering consultants Noble Denton.
31.08.2006
We are currently seeking to expand our team by recruiting to the following positions:
Head of Investor Relations
Investment Manager, Industry
Industry Analyst
Back office associate
Energivekst fund changes name to HitecVision Private Equity III
30.08.2006
The fund's shareholder meeting has today approved a name change to bring the name of the fund into line with normal private equity industry practice.
HitecVision announces half year results
21.08.2006
HitecVision Private Equity today announces its results for the first six months 2006.
HitecVision announces three transactions
22.06.2006
Stavanger, 22. June 2006:
HitecVision Private Equity today announces three new transactions: A major new investment, a major add-on acquisition, and a company sale.
HitecVision announces sale of Scandpower
20.06.2006
Stavanger/Oslo, 20th June 2006:
The owners of Scandpower Petroleum Technology Holding AS (SPT) have signed an agreement to sell a 70 per cent shareholding in the company to Altor, a leading Nordic private equity investor. The current owners, who include the company’s management; HitecVision Private Equity (through its Energivekst fund); and certain other investors, will retain a 30 per cent ownership on a pro-rata basis.
HitecVision holds final close for oil and gas sector fund at USD 300 million
13.06.2006
Stavanger, 13th June 2006:
HitecVision Private Equity, a private equity firm focusing on the energy sector, is pleased to announce the second and final closing of its new fund, HitecVision Private Equity IV, with capital commitments having reached the fund’s hard cap of USD 300 million. The fund, which is one of the largest ever raised in Europe targeting this sector only, will make controlling-stake investments in companies within the oil and gas sector in Europe and North America. Investments from the fund will be allocated to buy-out and growth capital investments, typically between USD 15 and 50 million prior to leverage.
HitecVision closes Technor acquisition
13.06.2006
Stavanger, 13th June 2006:
HitecVision Private Equity announces that it has today closed its acquisition, through the holding company CET Holding AS, of 94.6 per cent of the shares of Technor ASA. Technor is listed on the Oslo Stock Exchange, and CET Holding has announced its intention of acquiring the remaining shares and de-listing the company.
HitecVision announces investment in Vector International AS
01.06.2006
Oslo/Stavanger, 1st June, 2006: HitecVision Private Equity announced today that it has, through the investment fund HitecVision Private Equity IV LP, made an investment in pipe connector specialist Vector International AS.
HitecVision announces completion of bid for Technor ASA
19.05.2006
HitecVision today announced that CET Holding AS, a company wholly owned by HitecVision Private Equity IV LP, has decided to complete its bid for Technor ASA. CET has received acceptances totalling 94.26% of Technor's shares.
(Click heading for full information, in Norwegian only.)
HitecVision Private Equity announces possible bid for OSE-listed Technor ASA
27.03.2006
HitecVision announces results for the full year 2005
20.02.2006
Stavanger, 20. February 2006:
HitecVision Private Equity AS today announced its results for the full year 2005. A strong year has created income that will be recognized in 2006, and new revenue streams from 2006.
HitecVision Private Equity holds first closing of its new fund at USD 283 million
24.01.2006
Stavanger, Norway, 24th January 2006:
HitecVision Private Equity, a private equity firm focusing on the energy sector, is pleased to announce the first closing of its new fund, HitecVision Private Equity IV, with capital commitments totalling USD 283 million. The fund will make controlling-stake investments in companies within the oil and gas sector in Europe and the United States.
12.12.2005
HitecVision Private Equity is currently seeking to expand its team by recruiting three associates / senior associates. The ideal candidate has 2 - 5 years relevant experience from investment banking, management consulting, or the relevant department of a major corporation.
22.11.2005
HitecVision Private Equity AS is pleased to announce that Pål M. Reed (44) has joined the team as partner as of today. Reed is educated from the Norwegian School of Economics and Business Administration and the universities of Oslo, Bergen and Paris, and has long and varied experience from the investment and banking industries.
Result for the first six months
07.10.2005
HitecVision Private Equity today announces its results for the first six months 2005.
07.10.2005
HitecVision Private Equity today announces a NOK 165 million investment in Norwegian Energy Company AS (Noreco), a newly established independent oil company.
HitecVision disposes of Shareholding in APL ASA
26.08.2005
HitecVision has through a market transaction sold 4,726,313 shares in APL ASA held by its fund Energivekst, representing 24.3% of the total number of shares in APL ASA.
Gjensidige acquires 30% of Argentum’s investments
04.07.2005
Gjensidige acquires a 30%-share of the portfolio of the government owned investment company Argentum. – The sale unlocks close to NOK600m and shows that Argentum has achieved significant positive results in short time, says Managing Director Jørgen Kjærnes in Argentum.
HitecVision invests in Norse Cutting & Abandonment
23.06.2005
HitecVision Private Equity announced today that it has, through its Energivekst fund, made an investment in abandonment services specialist Norse Cutting & Abandonment AS.
Corporate changes and new name
08.06.2005
The demerger of HitecVision became effective today. HitecVision' business is continued through two new companies: HitecVision Private Equity AS, and Hitec Industries AS.
30.03.2005
HitecVision's Annual General Meeting has approved the proposed demerger of the company. The two new companies to be created from the current HitecVision, Hitec Industries and HitecVision Private Equity, are expected to start trading on the 8th June 2005. At the same time, NOK 82 million will be paid out to HitecVision's shareholders.
Forslag om fisjon av HitecVision
09.03.2005
Styret i HitecVision foreslår for generalforsamlingen at selskapet deles i to, ett investeringsselskap og ett forvaltningsselskap. Samtidig foreslås det en kontantutbetaling på 82 millioner kroner til aksjonærene.
HitecVision announces investment in Knowledge Systems
19.01.2005
HitecVision announced today that it has, through its fund Energivekst, acquired a 35% ownership position in Knowledge Systems, Inc. (KSI) in a combination of purchase of secondary common shares from Knowledge Systems’ founder and the issuance of primary common shares by Knowledge Systems.