Sale to Private Equity
RESMAN sold to Nordic Capital
RESMAN AS, a Norwegian oil services company with unique technology within wireless Intelligent Tracers for quantification of flow from oil wells, announced on 26 March 2015 that the owners of the company have reached an agreement with Nordic Capital, the international private equity firm, on the sale of 100% of the shares in the company

Innovative alternative to production logging and wired reservoir sensors

RESMAN was established in 2005 by SINTEF Venture, IFE Venture and Statoil Technology Invest based on technology developed by SINTEF and IFE. Since its inception, RESMAN has rapidly evolved its innovative Chemical PLT™ technology and patented data analysis methods to provide long term, risk-free and cost-efficient alternatives to production logging and wired reservoir sensors. The company has installed thousands of its Intelligent Tracer™ systems in hundreds of wells worldwide. By using proprietary inflow quantification models developed in-house and verified by third party flow loop testing, RESMAN can accurately quantify zonal inflow contribution and detect the location of water breakthrough in the most complex and challenging completion environments. The company is based in Trondheim, Norway with global offices in Brazil, USA, UK, UAE and Malaysia. The company has approximately 65 employees and revenues of NOK 210 million (EUR 25 million) in 2014. RESMAN was prior to the transaction owned by Statoil Technology Invest, Verdane Capital, IFE and a mix of current and previous employees.

Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital. Offices in Sweden, Denmark, Finland, Norway, Germany and the UK.

Norwegian Venture Capital & Private Equity Association: Exit of the Year 2015 – RESMAN

Criteria:This award is open to all Norwegian investors who achieved an exit for shares or cash. The judges have been looking for evidence demonstrating: – Role in growing the business – Role in the exit strategy and executing the deal – The shareholder value created by the exit – The impact on the Founder shareholders – The positive impact on the wider community

This year’s nominees: Resman, Gas Secure and Banqsoft.

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