Background

Hitec was founded in 1984 and went public in an IPO in 1994. The company delivered specialised products and services to the offshore drilling industry, in addition to being involved in oil service related investments.

In 2000 National Oilwell acquired the drilling part of the company. The remaining business activities were carried out by a separate company named Hitec Vision

In 2002 Hitec Vision started a private equity fund and subsequently a demerger took place in 2004/2005, leading to the creation of Hitec Industries. Hitec Industries now manages the remaining part of the legacy portfolio from the Hitec era.

Today

Hitec Industries is a Norwegian investment firm with its root firmly established within the oil & gas industry.

Hitec Industries ambition is to contribute to the building of industrial enterprises, through a carefully selected portfolio. As an active owner, we work closely with the entrepreneurs, sharing our knowledge and supporting our shared goals.

We will contribute to the key decisions that the entrepreneurs encounter, whether it means entering a new market, developing new products or finding ways to add value to the business. Hitec Industries also actively contributes to other issues such as strategy, organisational development and financial engineering.

A typical investment prospect is a company with a good concept, a leading edge / innovative technology and a clear understanding of the market and the customer. A management team with the right qualities and strong desire to succeed must be in place. And not least: the possibility and ambition of becoming number one within its field is present.

The industrial focus of Hitec Industries is within the oil & gas sector, and Hitec Industries main investments are within this sector. The company has the Nordic countries as its home market, but investments could also be made elsewhere if compatible with the investment strategy.

The ideal ownership share in a long-term perspective is 20 - 40%. However, In the first phase of an investment Hitec Industries might prefer a greater involvement and ownership share, to able to contribute with its strengths.