Headquartered in Larvik south of Oslo, Process Partner has six employees and a turnover of €6.77 million. Process Partner’s main market segments are oil & gas, (subsea and topside, offshore and onshore) and the general process industry.
Together with AxFlow AS, OE Solutions and Safe Supply, the AxFlow Norway Group now has a turnover of almost €29.50 million and 55 employees.
Announcing the acquisition, AxFlow CEO Ole Weiner said: “For some time, AxFlow Norway has been seeking to expand its product and service portfolio, particularly within advanced industrial process instruments. Process Partner AS is well established in the market with several leading product brands, unique application competence, certified resources for inspection, service and training, and solid customer relations within the oil- and offshore industry in Norway and abroad.”
“Process Partner and AxFlow fit very well together both in terms of expertise and products, especially when it comes to the instrumentation solutions for subsea applications,” added Gunnar Ødegård, managing director of AxFlow Norway. “We are enthusiastic about bringing the entire team from Process Partner into AxFlow and to see it develop together with the founders Per Kristian Vaagland, Dag Haagensen and Yngve Svendsen.”
“To us at Process Partner, the acquisition brings a stable owner, with a vast experience in the process industry and the financial strength to grow the business. Our product portfolios complement each other well in our traditional markets and therefore present interesting synergies. With this acquisition we also see a great possibility to extend our customer base and gain increased market share,” said Per Kristian Vaagland, managing director of Process Partner.