The acquisition strengthens Enerion in rental of air compressors, fan heaters and pressure washers
Enerion AS (“Enerion”) acquires 100% of the shares in Randaberg Technology AS (“Randaberg Technology”) and thereby expands its rental fleet with air compressors, fan heaters and pressure washers to onshore, offshore and maritime industry.
Randaberg Technology was founded in 2011, and is engaged in rental of air compressors, fan heaters, pressure washers and associated equipment for onshore, ship and offshore industry. The company is also established with sales of own products as well as distribution and sales of a number of well-known brands within the business area.
Enerion was founded in 2017 and is headquartered in Klepp, greater Stavanger area. The company is engaged in innovative design and production of well service equipment as well as providing service, maintenance and rental of equipment to a number of industries. The company is also present with a subsidiary in Aberdeen, Enerion Ltd. Enerion has also established an innovative subsidiary, Energen AS, which has developed emission reduction technology that will be commercialized to the market in 2024.
During February, Randaberg Technology will move to Enerion’s base at Klepp. All employees are included in the transaction and the company will operate with the same name and in the same way as before as a subsidiary of Enerion. The parties are very pleased with the transaction as the companies are highly complementary to each other. The acquisition will strengthen the customer base of both companies in what the parties see as an attractive market going forward.
“We have had Randaberg Technology as a customer for many years and know the company, the equipment and the people very well. For us at Enerion, this was a “perfect match” when the opportunity came. Those who have built up the company and the equipment park have done a very good job, and we can further develop it in an exciting market in the years to come,” says Ingvar Grannes, Chairman of the Board of Enerion.
The companies see major opportunities going forward with regards to electrification of the rental fleet and to use hydrogen to further reduce emissions where there is no power available. The acquisition also gives Randaberg Technology larger access to the international market.
“Randaberg Technology has developed very well in recent years, and we are very pleased that the company is now given the opportunity to develop and grow further as part of Enerion. I am confident that the combined expertise and synergy between the companies will have many positive effects in the future and wish all employees and Enerion the best of luck going forward”, says Ove Simonsen, Chairman of the Board of Randaberg Technology.
Periscope Advisors AS has acted as financial advisor and Advokatfirmaet Thommessen acted as legal advisor to Enerion, while CMS Kluge acted as legal advisor to Randaberg Group.