Through a private placement of the family-owned investment company Jotobico Holding AS, Prosessventiler AS has increased its share capital. This private placement makes Jotobico Holding AS the largest shareholder in Prosessventiler, with 75% ownership of the company. All existing shareholders will continue to hold shares. Financial details of this transaction have not been disclosed.
Prosessventiler AS is a Norwegian company specializing in the supply and service of high quality valves, and is a recognized supplier of valves and associated materials to operators and package suppliers within the offshore oil and gas industries. The company also has extensive experience in valves for LNG (liquefied natural gas).
Jotobico Holding AS is owned by the Cock family. As well as having minor interests in various companies within the shipping and offshore market, Jotobico Holding wholly owns the valve and instrument supplier J.S. Cock AS, which has a history of over 110 years’ experience in the sector.
Oaklins' team in Norway was exclusively mandated to find a new strategic partner/owner for Prosessventiler AS.
Nikolai K. Lunde
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.