Swedish PE Firm Snaps Up $267M-A-Year Oil Field Servicer

Law360, New York (January 4, 2013, 3:47 PM EST) -- Swedish private equity house Segulah Advisor AB will snap up offshore oil and gas field servicer Beerenberg Holding AS, it said Friday, giving the investor a foothold in a burgeoning Norwegian energy industry underpinned by the country’s resource-rich swath of the North Sea.

Under the deal’s terms, Beerenberg’s management team will hang onto a “significant” stake in the company, but he parties did not spell out how the interest would be divided. Segulah lifted its majority ownership from Norwegian private equity firm Herkules Capital Management, which...
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