The oilfield equipment suppliers industry in the Nordics comprises companies dedicated to providing specialized machinery and technology for oil and gas extraction. This sector involves firms that manufacture drilling equipment, pumps, and valves, as well as provide maintenance and engineering services. Recent trends show a growing emphasis on innovation and sustainability, with companies investing in advanced technology and eco-friendly practices. The shift towards renewable energy solutions is also influencing the industry, prompting traditional oilfield suppliers to diversify their offerings. As a result, the region is poised for growth, led by both established players and emerging startups.


In the Nordic region, a variety of investors are making strides in the oilfield equipment industry. This list includes corporate giants like Equinor, alongside private equity firms such as HitecVision. These investors, headquartered in key cities like Stockholm and Stavanger, range from large entities with over 10,000 employees to compact firms with around 50. Founded from 1905 to 2020, these investors have proactively engaged in multiple acquisition deals, with some, such as EQT Group, participating in 30 transactions in 2024 alone. Their activities showcase a robust interest in the energy sector and its future.


Top 12 Oilfield Equipment Suppliers Investors in the Nordics


1. EV Private Equity


EV Private Equity is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 2002. The firm specializes in energy technology and sustainable investments, partnering with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Notably, EV Private Equity has been involved in several relevant transactions within the oilfield equipment suppliers context, including a $15 million investment in Rival Downhole Tools in 2017, which focuses on downhole tools for the oil and gas industry. Additionally, they participated in funding rounds for Enpro Subsea, a company that provides subsea solutions, and Deep Casing Tools, which specializes in casing technology for oil and gas wells. These investments highlight their active role in the oilfield equipment sector while maintaining a commitment to responsible investment practices.


2. HitecVision

  • Website: hitecvision.com
  • Type: Private Equity
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 1985. The firm specializes in the European energy sector, providing institutional capital to energy production and infrastructure projects with a strong emphasis on sustainability and the energy transition. HitecVision manages private equity funds and collaborates with various stakeholders to foster growth in renewable energy and related industries. Notably, HitecVision has made significant investments in the oilfield equipment suppliers sector, including the acquisition of AXON Energy Products in 2008, which specializes in providing equipment and services to the oil and gas industry. In 2013, they acquired Vryhof, a company known for its mooring solutions, and Deep Sea Mooring AS, a Norwegian mooring specialist. Additionally, they have been involved in funding rounds for companies like WellPartner and Energy Drilling, further demonstrating their active role in the oilfield equipment and services market.


3. Addtech AB

  • Website: addtech.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1906
  • Headcount: 1001-5000
  • Number of deals in 2024: 9
  • LinkedIn: addtech-ab

Addtech AB is a corporate investor based in Stockholm, Sweden, founded in 1906. The company specializes in providing high-tech products and services across various sectors, including automation, electrification, energy, industrial solutions, and process technology. Addtech serves OEM manufacturers and end-users, focusing on enhancing operational efficiency and sustainability through innovative solutions. In recent years, Addtech has made several strategic acquisitions that highlight its interest in sectors related to oilfield equipment. Notably, in May 2023, Addtech acquired a 90% stake in Feritech Global, a company specializing in bespoke technical solutions for the geotechnical subsea sector, which is relevant to offshore oilfield operations. Additionally, the acquisition of Advanced Valve Solutions B.V. further emphasizes Addtech's commitment to providing engineered solutions that could be applicable in the oil and gas industry. These transactions reflect Addtech's strategy to expand its footprint in industries that support oilfield operations, making it a relevant player in the oilfield equipment suppliers market.


4. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in various investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has been involved in several significant transactions in the oil and gas sector, including the acquisition of Mongstad Administrasjon AS, known as Mongstad Supply Base, which is strategically located to support offshore activities in the North Sea. This acquisition highlights EQT's commitment to investing in infrastructure that supports oilfield operations. Additionally, their past acquisitions, such as Rolls-Royce Power Systems and FINN-POWER, further demonstrate their engagement in sectors that are relevant to oilfield equipment and energy production.


5. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, operating primarily in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, Equinor has a workforce of over 10,000 employees and is committed to sustainability, aiming to achieve net-zero emissions by 2050. As an investor, Equinor has been involved in several notable transactions relevant to the oilfield equipment suppliers industry. For instance, they led an equity investment in Upwing Energy to accelerate the development of downhole gas compressors, which are critical for enhancing oil extraction efficiency. Additionally, Equinor participated in funding rounds for Ambyint, a company that provides AI-driven solutions for oil and gas production optimization, and Interface Fluidics, which focuses on nanotechnology to improve testing processes in the oilfield. These investments highlight Equinor's strategic interest in advancing technology and solutions that support the oil and gas sector, making them a relevant player in the oilfield equipment suppliers market.


6. Epiroc Construction Tools


Epiroc Construction Tools is a corporate investor based in Kalmar, Sweden, founded in 2018. The company specializes in mining and construction equipment, providing a range of products including drill rigs and rock excavation tools, along with maintenance and digital solutions. Epiroc aims to enhance productivity and safety through innovative technology. In recent years, Epiroc has been active in acquiring companies that bolster its capabilities in drilling and excavation. Notable transactions include the acquisition of Schramm Australia's intellectual property, which enhances their drilling technology, and RNP Mexico, a manufacturer of rock drills, which strengthens their position in the Latin American market. These strategic moves indicate Epiroc's commitment to expanding its influence in sectors that are closely related to oilfield operations, making them a relevant player in the oilfield equipment suppliers market.


7. Norvestor

  • Website: norvestor.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1989
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability in its investments and has a diverse portfolio that includes sectors such as IT services and property maintenance. Notably, Norvestor has made significant acquisitions in the oil and gas sector, including a 95% stake in Read Cased Hole, a Scottish oil & gas intelligence service, and the acquisition of Hydra Well Intervention, a company specializing in well intervention services. Additionally, they acquired Presserv AS, a Norwegian company focused on preservation and corrosion protection for oil and gas operations. These transactions highlight Norvestor's active role in the oilfield equipment suppliers industry, making them a relevant investor in this space.


8. Investinor

  • Website: investinor.no
  • Type: Venture Capital
  • Headquarters: Trondheim, Trøndelag, Norway
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Trøndelag, Norway, founded in 2008. The firm specializes in providing funding to promising startups and companies, helping them grow and achieve market leadership. Investinor collaborates with entrepreneurs and other investors, managing state interests in seed and venture funds. Among their notable transactions, Investinor has invested in companies relevant to the oilfield equipment suppliers industry, including Ace Oil Tools, which raised funds in 2015, and Zilift Limited, a UK-based provider of artificial lift solutions for the oil and gas industry, which received a £4m investment in 2012. Additionally, they have been involved with Well Conveyor and GasSecure, both of which are linked to oil and gas operations. These investments demonstrate Investinor's active role in supporting companies within the oilfield equipment sector.


9. Ferd AS

  • Website: ferd.no
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1998
  • Headcount: 51-200
  • LinkedIn: ferd-as

Ferd AS is a private equity investment company based in Oslo, Norway, founded in 1998. The firm focuses on creating lasting value through various business activities, including investment management, real estate development, and support for social entrepreneurs. Ferd AS has made notable investments in the oil and energy sectors, including the acquisition of Aibel, a company specializing in offshore wind and energy services, and its investment in Petroleum Geo-Services, which raised funds through post-IPO equity. Additionally, Ferd's acquisition of Servi Group further highlights its commitment to the oilfield equipment suppliers industry. The company also engages in initiatives that promote social entrepreneurship, showcasing a diverse investment strategy.


10. Metso

  • Website: metso.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 2020
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: metso

Metso Corporation, founded in 2020 and based in Espoo, Uusimaa, Finland, is a leading industrial machinery company that specializes in technology and services for the mining, aggregates, and oil and gas industries. With a workforce of over 10,000 employees, Metso focuses on enhancing operational efficiency and sustainability for its business customers through a range of products, including machinery, spare parts, and lifecycle services. Notable transactions include the acquisition of WEARX, a provider of wear lining solutions, which strengthens their offerings in the oil and gas sector. Additionally, their acquisition of Global Physical Asset Management enhances their digital service capabilities, which can be beneficial for oilfield operations. Metso's strategic acquisitions, such as those of P.J. Jonsson & Söner and McCloskey International, further demonstrate their commitment to expanding their portfolio in areas relevant to oilfield equipment suppliers.


11. Trelleborg Group

  • Website: trelleborg.com
  • Type: Corporate
  • Headquarters: Trelleborg, Skåne, Sweden
  • Founded year: 1905
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: trelleborggroup

Trelleborg Group is a manufacturing company based in Trelleborg, Skåne, Sweden, specializing in engineered polymer solutions. Founded in 1905, the company has grown to employ over 10,000 people and operates across various industries, including aerospace, automotive, healthcare, and marine. In recent years, Trelleborg has made several strategic acquisitions to enhance its offerings in the oil and gas sector. Notably, they acquired Gutteling Composite Hoses in March 2021, which bolstered their industrial hose capabilities, particularly for the LNG sector. Additionally, their acquisition of Mampaey Offshore Industries in December 2024 further expands their footprint in offshore applications, which are critical to oilfield operations. These transactions reflect Trelleborg's commitment to providing innovative solutions that meet the demanding needs of the oilfield equipment suppliers industry.


12. Herkules Capital


Herkules Capital is a private equity firm based in Oslo, Norway, founded in 2002. The firm specializes in managing investments in established companies with strong growth potential across various sectors, including energy, consumer goods, healthcare, services, and industrial technology. Notably, Herkules Capital has been involved in several transactions within the oilfield equipment suppliers context, such as the acquisition of Petroleum Technology Company in 2013, which focuses on providing technology and services to the petroleum industry. Additionally, the firm has invested in Aibel, a company that offers services to the oil and gas sector, and Beerenberg Corp., which provides maintenance and engineering services in the energy sector. These transactions highlight Herkules Capital's commitment to investing in companies that support the oilfield equipment and services industry, making it a relevant player in this space.



Oilfield Equipment Suppliers Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EV Private EquityStavanger, Rogaland, Norway11-5020020
HitecVisionStavanger, Rogaland, Norway51-20019850
Addtech ABStockholm, Stockholm, Sweden1001-500019069
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
EquinorStavanger, Rogaland, Norway10001+19726
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
NorvestorOslo, Oslo, Norway11-5019893
InvestinorTrondheim, Trøndelag, Norway11-5020084
Ferd ASOslo, Oslo, Norway51-20019980
MetsoEspoo, Uusimaa, Finland10001+20202
Trelleborg GroupTrelleborg, Skåne, Sweden10001+19057
Herkules CapitalOslo, Oslo, Norway11-5020020


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