Segulah III’s portfolio company PMC Group has entered into an agreement to divest its Norwegian activities, Servi (PMC Group Norway AS1), to Ferd Capital.
The transaction is subject to competition clearance.
Servi’s business activities are focused on the Norwegian offshore industry, with a range of blue chip customers among leading equipment manufacturers, yards and fleet owners.
Recently, a sales office was opened in Houston, Texas. With Ferd Capital as a new owner, Servi will be able to fully exploit growth opportunities in the offshore industry globally.
In 2012, Servi had a turnover of NOK777m and an EBITDA of NOK93m.
Ferd Capital is a part of Ferd, a family-owned Norwegian industrial and financial group that is an active and long-term owner of companies with international potential.
After the sale of Servi, PMC Group will have annual revenues of approximately SEK2bn and consist of companies in Sweden, Denmark, Finland, Poland, China, India and the US.
“We are pleased with this solution, which will allow Servi to continue to invest and grow in the global offshore industry, and also allow PMC Group to continue to develop its different companies,” says Mikael Andersson, chief executive of PMC Group.
