Akastor ASA: Best Oilfield Services Investor Global 2021

The Norwegian based global oil-services investment company Akastor practices active ownership of assets to create added value for stakeholders: existing and potential shareholders, clients of portfolio companies and Akastor group employees. The company was established in 2014 following the demerger of Aker Solutions, part of a group with 170 years of industrial manufacturing experience. Aker Holding AS, a subsidiary of Aker ASA, is Akastor’s largest shareholder at 36.7 percent. Akastor is listed on the Oslo Stock Exchange. In 2020, its portfolio companies generated approximately $500m in revenues and employed over 2,000 people worldwide.

Akastor is an investor with a solid track record within the energy sector, making value-generating transactions and contributing industrial knowhow to spur growth and profitability. It looks for exits based on good timing and attractive terms. Akastor has made eight divestments since 2015, realizing more than $650m in net proceeds in total. Most recently, Akastor has demonstrated ability to carry through transactions also in a complex market environment through the combination between MHWirth, an Akastor portfolio company, and Baker Hughes’ subsea drilling division to create HMH, a global full-service offshore and onshore drilling equipment provider.

Akastor promises to integrate sustainability into its investment decisions and report on progress with timely transparency. The company is committed to move towards a carbon-neutral future and has for its office-based portfolio companies set a target of net-zero CO2 emissions by 2030, while the target for its industrial companies is to get to net zero within 2050. Akastor urges its portfolio companies, all primarily operating within the oil service industry, to align operations with the Paris Agreement as well as the Sustainable Development Goals of the United Nations. Also, Akastor has strong focus on developing energy-efficient technologies within its portfolio companies to reduce adverse impact on the environment caused by their own and its customers’ operations. Akastor expects to see increased diversification and non-oil operations among portfolio companies as much of their knowledge, skillsets and equipment would adapt to renewable energy markets.

marten

Recent Posts

SegurCaixa Adeslas: Best Insurer Spain 2024

SegurCaixa Adeslas, a pre-eminent Spanish health insurance company, has demonstrated a formidable and truly impressive…

2 weeks ago

Banco BPI: Excellence in Sustainable Banking Initiative Portugal 2024

Banco BPI's dedication to sustainability is a beacon of proactive environmental and social responsibility. Beyond…

3 weeks ago

BSE Ltd: Champions of Capital Market Innovation and Efficiency Asia 2024

BSE Ltd, formerly known as the Bombay Stock Exchange, is a crucial player in India’s…

4 weeks ago

TMT Investments Plc: Visionary Leaders in Global Tech Venture Capital Europe 2024

TMT Investments Plc, publicly quoted on the AIM market of the London Stock Exchange since…

4 weeks ago

BNP Paribas Fortis: Outstanding Contribution to SME Financing Benelux 2024

BNP Paribas Fortis is a key player in the Belgian banking sector with a rich…

4 weeks ago

BAWAG Group AG: Best Banking Group Governance DACH 2024

BAWAG Group has reported 2023 net profit of 683 million euros, a ROTCE of 25…

4 weeks ago