Headquartered in Stavanger, Norway, Cegal provides mission critical cloud, software and data management solutions to the global energy industry. The company was founded in 2000 and during its first decade of operations Cegal offered solutions for efficient and centralized IT services and operations to small and medium sized companies across multiple industries in the Stavanger area.
We became involved with Cegal in 2011 and identified the company’s potential to leverage on its foothold in the local energy industry in Stavanger to become a global energy IT specialist.
Geologists first choice
Since our investment, Cegal has transformed from a local IT services provider based in Stavanger, Norway, to a global leader within its market niche operating from locations in Stavanger, Oslo, Trondheim, London, Aberdeen, Houston, Calgary, Kuala Lumpur and Dubai.
Cegal, a Fund V investment, was divested in 2019 and acquired by a group of investors through a new fund vehicle managed by Norvestor.
Working with Norvestor we realised our potential in an accelerated way. We worked closely with the Norvestor team who made valuable contributions as active owners, without undermining the management team’s authoritySvein Torgersen, CEO of Cegal Group
How has the business grown with Norvestor as owners?
- Expanded to six countries
- Completed four add-on acquisitions
- Solidified its position as the market leader in Norway
- Continuous investments in product development
Since our investment in 2011, Cegal has grown to more than six times its original size and has taken a leading position internationally within its market niche. The company is experiencing an all-time high interest for its services and has a revenue backlog in excess of NOK 2.5 billion.