NORCE Norwegian Research Centre AS (“NORCE”) has sold 100% of the shares in Gexcon AS to Longship Fund II (“Longship”).
Alpha Corporate Finance has acted as financial advisor to Gexcon and NORCE in the transaction.
Gexcon is a global leader in process safety software, safety consulting and testing services, and specializes in analysis of dispersion, explosion and fire related risk and consequences. Based on experience developed in cooperation with the oil and gas industry, Gexcon has become the preferred supplier of safety studies also to the global hydrogen industry, as well as other industries requiring high-end safety solutions. In 2020, consolidated revenues were NOK 180 million and Gexcon employed a total of 147 employees. Gexcon is headquartered in Bergen, Norway, with 11 subsidiaries and branch offices across the globe.
NORCE is a Norwegian research institute, with expertise in a wide range of fields and strong communities of knowledge. NORCE delivers research and innovation in energy, health care, climate, the environment, society and technology. The solutions from NORCE address key challenges for the society and contribute to value creation for numerous public and private organizations on local, national, and global levels. Commercialization of results from research and innovation is an integrated part of the core activities in NORCE. At the corporate level (2020), NORCE had about 1000 employees, and a turnover of about NOK 1.4 billion.
Longship is a Norwegian private equity investor which identifies and invests in companies with significant growth potential in the Norwegian lower mid-market. Longship closed its second fund in November 2020 with commitments of NOK 1.7 billion.