Flux Group acquires Norwegian Piping
HitecVision is pleased to announce Flux Group’s acquisition of Norwegian Piping.
Norwegian Piping supplies pipes, fittings, flanges, special items and other pipe related products from European manufacturers or from stock, to customers in Norway and South East Asia. This is the second of several planned acquisitions in the Flux game plan and will constitute the foundation for Flux’s Piping Division.
Flux Group is a start-up buy and build platform aiming to build a leading provider of products and related services in the oil & gas value chain. The business model is similar to those of the successful Fund V portfolio companies Stream and Align, focusing on product development, distribution, and production/assembly. A strong management team and board have been recruited, consisting of persons with significant experience from the sector, including executing buy and build plans.