Wilhelmsen increases their ownership in NorSea

NorSea gets an even stronger main shareholder, when Wilhelmsen buys out the other external owners and thus secures 99% ownership of the company.

NorSea first welcomed Wilhelmsen as one of the owners back in 2012. The latest transaction increases Wilhelmsen’s shareholding from 75% to 99%.

Former partners Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS have each sold their shareholdings of circa 12%, with NorSea employees retaining the remaining 1% of shares.

Much of Norway’s activities and ambitions within the current offshore industry and future renewable energies are focused in geographical areas where NorSea owns and operates its bases. This provides a unique opportunity to be part of those value chains, something NorSea and Wilhelmsen are working hand in hand to achieve.

“NorSea’s coastal infrastructure and strong position in the offshore industry, provides an array of opportunities to take on key roles in the restructuring that is taking place in the energy and maritime industries. Over time, Wilhelmsen has proven to be a very active and positive ally of NorSea, through participation in many commercial ventures and active support for our activities”, says John E. Stangeland, CEO of NorSea.

“Having such a strong owner behind us, who share our ambitions and long-term perspective, means that we can grab opportunities when they come and take advantage of an enthusiastic partner while we work for increased growth in our various business segments”, says Stangeland.

The enthusiasm is shared by the management of Wilhelmsen:

“Our partnership with NorSea has developed and strengthened over many years, across numerous projects, joint ventures, and indeed shared ambitions. Eidesvik and Møkster have been instrumental in helping to build this connection and we remain immensely appreciative of their efforts”, says CEO of Wilhelmsen, Thomas Wilhelmsen.

“This latest transaction demonstrates our continued belief in the competence and values of the company and supports the Wilhelmsen group’s long-term strategy towards the supply base industry and other exciting ventures in the ocean space”, says Wilhelmsen.

“We are already well organized to take exciting initiatives that support the green shift. Wilhelmsen’s ownership in NorSea will be a catalyst to ensure that we continue to build a sustainable supply chain for the oil and gas industry, as well as expand our business portfolio to new activities that support the energy transition”, adds Jan Eyvin Wang, Executive Vice President New Energy in Wilhelmsen and Chairman of the NorSea group.

Jan Eyvin Wang, Executive VP New Energy in Wilhelmsen & Chairman of the Board in NorSea. Foto: Wilhelmsen Group.