The unit, DNV Petroleum Services (DNVPS), provides fuel management services for the maritime and power sectors with customers including ship owners, managers and charterers as well as power plant operators.
Headquartered in Singapore, DNVPS employs 220 staff and has offices in Rotterdam, Houston, Fujairah and Oslo, with approximately half of the global contracted volume in its space.
Eirik Andreassen, who will remain as managing director of DNVPS, said, “This is a defining moment for DNVPS as we are poised for growth with IK. Opportunities will come from sharpening our focus on our clients’ needs, building on our global leadership position, expanding our high-quality service offerings and R&D capabilities and leveraging our fuel quality testing database to create value and develop innovative services and products. We are also pleased to maintain close ties and collaborate with DNV so that clients can benefit from our enhanced capabilities.”
Thomas Klitbo, deputy director at IK, added, “DNVPS is an innovative and well-established company in a specialised niche market. The company will benefit from increased global fleet size and increased demand for its services, which will allow it to maximise volume growth. We are looking forward to working with the management team on this project.”
IK, formerly known as Industri Kapital, focuses on the Nordics, Germany/CEE and France Benelux. The firm recently exited its investment in sanitary fittings company Hansa for a 2.7x return.
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