NEWS
Combining strengths
EQT VI to acquire Aker Solutions takes over subsea companies Vertu from Nokia A
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okia has agreed terms for EQT VI, part of the leading private equity group in northern Europe, to acquire Vertu, the global leader in luxury mobile phones, from Nokia. Nokia believes that this is the best option for the next step in Vertu’s journey of delivering excellence, enabling the brand to focus on increased opportunities for growth in the luxury category. “EQT VI is excited about the opportunity to develop Vertu as a standalone company and plans to drive the development of the luxury mobile phone category through significant investments in retail expansion, marketing and product development,” said Jan Ståhlberg, Partner at EQT Partners, Investment Advisor to EQT VI. Having delivered double digit sales growth over the past few years, Vertu continues to lead its class with a portfolio of high end mobile phones, increasingly led by its smartphones and tailored services, offering unique access, experiences and opportunities to a discerning and growing customer base. Vertu is headquartered in Church Crookham, UK and employs approximately 1000 people worldwide. The transaction is expected to close during the second half of 2012. Nokia will retain a 10% minority shareholding in Vertu. Visit: www.vertu.com
PJD & FMT in major joint venture
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wo of Europe’s leading engineering firms are linking up in a joint venture that will see the creation of the UK’s first fully integrated high performance power plant construction business. The new company, In2grated Installations (I2I), combines the expertise of UK-based PJD Group, one of the UK’s largest specialist mechanical engineering businesses
18 Industry Europe
ker Solutions has acquired the Norwegian companies Subsea House and SSH Engineering and plans to further expand and recruit 50–100 people in Stokke, located in the Vestfold county of Norway. Subsea House and SSH Engineering, currently owned by Subsea Holding, employs 40 people in total. The companies were established in 2007 and have a solid background within development, assembly, testing and refurbishment of subsea tools and products. The companies developed a state-of-the-art subsea facility in Stokke, one hour south-west of Oslo, designed for testing of subsea products, systems and tools in 2007, which is part of this acquisition. Knut Røsjorde, Aker Solutions’ head of subsea in Norway and Africa, says: “This acquisition is a response to the growing market demand both in
Norway and internationally. By acquiring Subsea House and SSH Engineering, Aker Solutions will gain immediate access to skilled resources in a region where Aker Solutions has limited presence within the subsea industry segment. In addition, we will get access to additional assembly and test capacity.” Visit: www.akersolutions.com
NCC to purchase construction operations in Norway
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CC Construction in Norway has entered into an agreement to acquire the Norwegian construction company OKK Entreprenör AS. OKK’s core operations focus on the production of housing units and commercial properties. OKK operates in Oslo and in the Drammen region south-west of Oslo. OKK generates annual sales of approximately SEK 1 billion and has 350 employees. The acquisition of OKK is in line with NCC’s growth strategy in Norway, which encompasses all business areas. NCC is already a powerful player in the Oslo region and aims to further strengthen this position. “The development resulting from the high rate of population growth caused by urbanisation and the overall need for additional housing units in Norway are factors contributing to the strong growth expected in both Oslo and the Drammen region,” says NCC’s CEO Peter Wågström.
The acquisition of OKK will provide NCC with a stronger geographic base and create the necessary conditions for future growth in Oslo and Buskerud. The acquisition will also complement NCC’s existing expertise in residential production, renovation and building services. Visit: www.ncc.se
and FMT Group, based in Austria. The formation of I2I sees the creation of the first fully integrated mechanical and electrical installation specialist. The new business will offer a range of specialist expertise ranging from boilers and turbines to electrical installation, control and instrumentation. The main focus of I2I’s business operation is the experience gained from over 30 years
in the energy sector. This encompasses both the UK and international markets and guarantees customers a wealth of knowledge, valuable insight and commercial expertise. David Hayle, chief executive of PJD Group, commented: “This is an exciting development for the UK energy sector and a first for the industry.” Visit: www.in2gratedinstallations.co.uk
