Herkules announced the acquisition of PSW Group

Herkules Capital, an Oslo, Norway-based private equity company announced getting into an agreement to acquire all shares in PSW Group, a successful oil service company delivering repairs, modification, certification and testing of subsea and drilling equipment in Norway.

The financial aspects remain confidential, while the deal was made through the fund Herkules IV.

PSW Group was incorporated in 2007, is is headquartered at Mongstad, Hordaland (Norway) and renders services to most of the subsea companies and rig owners operating on the Norwegian Continental Shelf.

In 2013 sales were approximately NOK 178 million.