Energy Ventures private equity

Boss of new Norwegian service player says merger won’t be the last

The boss of a private-equity backed company in the Norwegian sector said the company’s inception is a sign of the growing trend for mergers in the industry following a decline in oil price. Rune Haddeland is set to take up the reins of WellConnection Group, which has been formed after acquistions of Eurotechnology InCon AS, FrankMohn Mongstad AS and WellConnection Subsea AS. The company was established by private equity firm Energy Ventures which aims to establish itself as a major inspection, maintenance and repair player in the Norwegian market.