AxFlow Acquires Process Partner (Norway)
AxFlow has extended its business in Norway with the acquisition of Process Partner, experts in process instrumentation, calibration and gas detection equipment for offshore and onshore industries.
With 570 employees and sales of €175 million, AxFlow is the distributor of industrial fluid handling equipment in Europe and in South Africa. In Norway, AxFlow is a provider of positive displacement pumps, mainly towards the oil- and offshore and water- and wastewater segments.
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,” ads 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”, says Per Kristian Vaagland, managing director of Process Partner.
Process Partner AS is headquartered in Larvik south of Oslo, the company has 6 employees and a turnover of NOK 62 million. The main market segments are oil & gas, (subsea and topside, offshore and onshore) in addition to general process industry.