Following a demerger in May 2014, AGR Holdings AS is the parent company for AGR’s Petroleum Services business, the world’s largest independent well management group. The purchase price for AGR Holdings is NOK 1,640m, on an enterprise value basis, and the transaction is expected to complete on or around the end of August 2014.
AGR Holdings AS is the leading global well management player. The company is based in Oslo, Norway, with additional offices in Stavanger, Straume (Bergen), Trondheim, Aberdeen, Guildford, Houston, Perth, Almaty, Moscow, Dubai and Abu Dhabi. On a consolidated pro forma basis, after adjustment for the de-merger of AGR Energy and the E&P business, the company generated 2013 Revenues of NOK 1,382m and EBITDA of NOK 182m. In addition to well management, the group offers services through five other business areas; Reservoir Management, Facilities Solutions, Consultancy, HSEQ and Training and Software Solutions. The offering covers services across the complete asset life cycle – from prospect generation, exploration drilling, field development, and production and field operations to field abandonment.
Silverfleet Capital is a European private equity firm specialising in mid-market buyouts through offices in London, Munich and Paris. The company has been investing in private equity deals for more than 25 years, having previously been the private equity arm of Prudential plc and operating under the name PPM Capital. During this period, Silverfleet has completed more than 100 buyouts across Europe.