Bokn Invest is a consortium comprising investment fund Aker Capital Fund, private equity firm HitecVision and the privately held investment company Camar.

 

"Bjørge is an interesting company with great potential, but it is currently going through a period with challenging market conditions that could last for several years. In such a period, the management needs time and space to focus on strategic and operational challenges, as well as the opportunities that arise due to the market conditions. In this phase, we think the company is best served with having few, but active owners who can contribute with their resources, knowledge and capital,” said Frank Reite, CEO of Converto Capital Management, which manages Aker Capital Fund. Reite is also chairman of Bjørge ASA.

 

The offer will be conditional on Bokn Invest receiving acceptances for at least 90% of the shares in Bjørge. Aker Capital Fund currently owns 39.9% of the shares in Bjørge, while Camar holds a 16.8% stake in the company.

 

Bjørge’s Rotating Equipment Solutions division supplies firewater pump systems, seawater lift pumps, cargo pump systems, crude oil export pumps, process & utility pumps, produced water pumps and water injection pumps.

 

A formal offer is expected within 2–4 weeks.