Stavanger, 31 March 2017: Flux Group has signed an agreement to buy the instrumentation company Analytic AS in Larvik, Norway. The acquisition represents the first stepping stone into Flux Group’s investment in the Instrumentation, Measurement, and Analysis (IMA) segment.
Since 2010, Analytic has achieved a strong position in the instruments and analysis systems market. Turnkey EPC solutions for offshore oil and gas laboratories is one of the company’s focus areas. Analytic has acquired a position as one of Norway’s leading suppliers in this niche market, with project deliveries to i.a. the Gina Krog FSO, Martin Linge, Ivar Aasen, and Johan Sverdrup developments.
”Analytic’s leading expertise and experience, and solid customer portfolio will provide valuable contributions to Flux Group. We expect considerable synergies to arise between our current product and market areas and those of Analytic – and we also envision an even broader IMA offering over time,” said Ådne Grødem, CEO of Flux Group.
Prior to the acquisition of Analytic, Flux Group comprised three business areas; Flux Valvision, which supplies valves, Flux Norwegian Piping, which supplies pipes, and Flux Active Service, which provides hoses and couplings. All three are closely connected to oil and gas upstream operations. By adding instrumentation to the company’s existing offering, Flux Group will be able to provide even broader products and solutions for oil and gas production.
Analytic has a strong position in the Norwegian market, and a history of successful international project deliveries. As part of Flux Group and a broader IMA markets initiative, plans include further profitable growth.
“We have cooperated with Flux over the past year, and we like their ambitions and the way they work. With Analytic incorporated in Flux Group, we can consolidate our position and attain our growth targets faster”, said Bjørn Borgersen, CEO of Analytic.
During 2016, Flux Group enhanced its position, creating a solid foundation for growth.
“Over the past year, every one of our four companies was awarded contracts for deliveries to the Johan Sverdrup project. We see this as recognition of the competence inherent in our businesses, which Flux Group has succeeded in further developing and consolidating,” said Ådne Grødem.
For further information:
Ådne Grødem, CEO Flux Group, tel: +47 907 53 999
About Flux Group
Flux Group was established by HitecVision in the spring of 2014, with the ambition to build a strong, international oilfield services group. The group is intended to consolidate through acquisitions, as well as organic growth. Emphasising safety and quality, the group focuses on providing customers with a variety of oil and gas related equipment and components. Flux Group is headquartered in Stavanger and is located in Norway, Italy, and South Korea.