HitecVision sell ITM to Bandak Group

HitecVision is pleased to announce the sale of ITM to Bandak Group AS. HitecVision has over the past five years consolidated ITM’s position in the Norwegian market and is now handing over a company poised for further growth.

ITM was acquired in 2007, through the HVPE IV’s 50% owned entity Aarbakke Group (renamed Breimyra Invest). Since the investment was made, ITM has operated as an independent company within Breimyra, consolidating its market leader position in the in the provision of tubular services to the oil and gas industry on the Norwegian Continental Shelf.