The previously announced demerger of Fund V portfolio company Bjørge ASA became effective from 5th January. The former Bjørge Group has been reorganized into three independent companies; Stream AS, Align AS and Naxys AS. The split will create three focused companies capitalizing on established market positions within the service sectors of the oil and gas industry. The companies Stream and Align will pursue organic and structural growth strategies to reach their goals of becoming leaders in their respective market segments.
Align AS (formerly consisting of Bjørge Safety Systems and Marine Automation, FPE, Eureka and NCT) targets the gobal market for process and safety critical solutions for the oil and gas industry. The company is positioned in industry segments set for strong growth and recognizes a large number of attractive growth opportunites within the global market for process, fire and safety solutions.
Stream AS (formerly Solberg & Andersen and Bjørge Teamtrade) targets the solutions and services business within valves and instrumentation for the energy and offshore industries. The company aims to take a market leading position in the interface between leading components producers and the customers. The primary market is the North Sea based customers.
Naxys AS (formerly Bjørge Naxys AS) will be developed as an independent private company, focusing on specialised subsea instrumentation for the detection and monitoring of leaks from seabed installations. The company is in the early commercialisation phase of its advanced subsea monitoring devices and Bokn Invest remains committed to support the future expansion of Naxys.
www.stream.no
www.align.no
www.naxys.no
