Cegal acquires Escape Business Technologies
Cegal AS (“Cegal”), which is majority owned by Norvestor V, L.P., has acquired 100% of the shares in Escape Business Technologies (“Escape”). The joint forces of the two technology firms represent a significant strengthening of Cegal’s position in the UK market.
Cegal is an innovative provider of cloud services and geoscience solutions to the global oil and gas industry. The firm has a £50 million turnover and 330 staff throughout its offices in Stavanger, Oslo, Houston, London, Aberdeen, Calgary and Dubai. The firm has expanded rapidly over the last years, particularly within cloud solutions and software helping their customers to more efficiently utilize their resources.
Escape is an award-winning, energy-focused provider of IT consultancy and infrastructure support to both UK and international companies. Escape holds preferred partner status with major vendors such as Microsoft and HP, and currently employs 26 staff in Aberdeen and Thurso, with a turnover of £3 million.
“This is an exciting step for Escape following the growth we have achieved since starting the business
15 years ago. Cegal’s innovative products and capabilities coupled with their international network and expertise in the geoscience market, makes a perfect combination to our existing IT-support core offerings. We are delighted to become part of the Cegal organisation and we are confident that our existing client base will benefit from the additional services Cegal will bring both in Aberdeen and internationally”, says Robin Parkinson, co-founder and Managing Director of Escape.
“We are very pleased to have teamed up with Escape and strengthened Cegal’s position in the UK market. Escape has a strong client base in Aberdeen and a highly skilled technical team. We are truly excited about offering our cloud services to the UK market and see a substantial potential to help the industry become more efficient by utilizing cloud services and software with local support and competence”, says Svein Torgersen, CEO of Cegal.
Henning Vold, Partner, Norvestor Equity
Tel: +47 47 90 87 95 81
Norvestor Equity AS is a leading private equity company focusing on lower mid-market buyouts in the Nordic region. The team has worked together since 1991 making it one of the most experienced private equity teams in Norway, having executed 56 investments and participated in 228 Add-On acquisitions and divestitures. Norvestor focuses on investment opportunities in growth companies, making platform investments principally in Norway and Sweden, with potential to achieve a leading Nordic or international position either through organic growth, through acquisitions or by expanding into new countries. Funds advised by Norvestor are currently invested in the following portfolio companies; Life Europe, Johnson Metall , Advantec, Apsis, Aptilo, Cegal, Marine Aluminium, Crayon, Sortera, ABAX, Robust, iSurvey, Future Production, Nomor, PG Group, Roadworks and Permascand. Read more at www.norvestor.com