Established in 1889 and headquartered in Oslo, Eureka provides water pumps and genset solutions for offshore installations in the oil & gas and offshore wind markets. The business employs approximately 150 people across four locations and had a turnover of NOK547 million in 2023. Following the acquisition, the Eureka brand will remain, and the company will become part of Techouse Group as a separate subsidiary.
Techouse Group is home to Techouse AS, a specialist in energy recovery and water treatment solutions to the offshore oil and gas sector, and Cubility AS, an innovator of solid control systems and water treatment. With Eureka, the Techouse Group will have three distinct divisions, offices in Norway, the UK, Bosnia, France, Chile and China, and more than 300 employees.
Tom Munkejord, CEO of Eureka, said: “Eureka is well positioned for future growth with an attractive product offering and a sound market outlook. Our ambition is to always deliver innovation with important mission critical products that are key to our clients’ operations, and this will be a great fit with the wider Techouse Group. We very much look forward to becoming part of the Techouse Group.”
“Eureka operates in adjacent verticals to our current businesses and provides proprietary pump solutions and backup power solutions with more than 40 years’ experience delivering to the oil & gas industry,” said Marcus Billman, chairman of the Techouse Group board of directors. “It has a solid client base and attractive aftermarket business with attractive market opportunities within non-oil & gas segments including offshore wind. This acquisition will establish cross-synergies and improve our revenue diversification. Techouse Group was set up to create a larger more diversified entity that will help our companies to compete in global markets more effectively and today’s announcement is an important step on this journey.”
Founded in 1997 and owned by its partners, Triton is a European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of business services, industrial tech, and healthcare.
