C.W. Downer & Co. Assists Technor Group With Sale of Technor Safe Ex
Boston, December 16, 2010 - C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce the completed sale of Technor Safe Ex AS to BARTEC GmbH. BARTEC is majority owned by the Swiss private equity firm, Capvis. The transaction closed on September 30, 2010, and the deal value was not disclosed.
Technor Safe Ex is a leading European manufacturer of explosion proof equipment and systems used in hazardous areas such as oil platforms and offshore drilling facilities. The company is based in Stavanger, Norway. Technor Safe Ex was a subsidiary of Technor Group which in turn is a portfolio company of HitecVision, a leading Norwegian Private Equity firm focused on oil & gas related transactions.
“Technor Safe Ex has a leading position in the North Sea and provides BARTEC with a unique opportunity to access one of the fastest growing segments of the market,” said Frank Merkel, Managing Director and Partner with C.W. Downer & Co. “Technor Safe Ex’s strong market position generated significant strategic interest among the main players in the Ex industry, which helped to complete the process in just three months.”
Technor Safe Ex will operate as an independent subsidiary of BARTEC and will be called “BARTEC TECHNOR.” The acquisition of Technor Safe Ex is in line with BARTEC’s announced global growth strategy and follows the acquisition of UK-based Vodec Ltd., in 2009 and the recent establishment of sales units in Japan and Kazakhstan. Technor Safe Ex will provide BARTEC an area of further international expansion into Norway and Scandinavia.
C.W. Downer’s transaction team included Frank Merkel (Managing Director & Partner, Frankfurt), Ulrich Müller (Managing Director, Frankfurt), Michaela Wieser (Associate, Frankfurt), Jochen Köhler (Associate, Frankfurt) and Taso Skalkos (Associate, Boston).
About C.W. Downer & Co.
C.W. Downer & Co. is an independent, global investment bank offering its clients a high level of personal attention coupled with more than 30 years of international execution experience. With eight fully integrated offices on four continents, we consistently identify the most appropriate buyers worldwide and uncover "hidden" acquisition targets. C.W. Downer & Co. combines the global reach of a bulge-bracket investment bank with the personal touch of a boutique. For further information, visit http://www.cwdowner.com.
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