Bluewater Sells Techouse to Strategic Buyer Group in Norway
July 2023: Bluewater can today announce that it has sold Techouse AS (Techouse) to Norwegian strategic buyer Triton, a private equity investment firm with focus on medium-sized businesses across Europe. The acquisition aims to integrate Techouse into a group holding structure alongside Cubility AS (“Cubility”), an innovative solid control systems company and a current Triton portfolio company.
Bluewater acquired Techouse (formerly HalvorsenTECH) in 2018. The company is renowned for its waste to heat recovery and water purification solutions for offshore projects, and under Bluewater’s ownership has experienced rapid growth, establishing a strong reputation in the industry. The company possesses a robust backlog of business, indicating a favourable outlook for future operations. Under the leadership of CEO Svein Helge Pettersen, Techouse boasts a stellar management team known for their exceptional skills and expertise.
Bluewater says: “We are pleased to have reached this point in our journey with Techouse, and we are confident that the company is well-positioned for the future. We extend our sincere thanks to Svein Helge and his team for their remarkable efforts and wish him and the entire management team all the very best moving forward.”
The terms of the transaction remain undisclosed.