Presserv gets investment from Norvestor

Presserv AS, a Stavanger, Norway-based company providing preservation and corrosion protection services within the oil, gas and shipping industry announced receiving an investment round from Norvestor.

The financial details of the transaction remain undisclosed, and the investment was made through Norvestor VII L.P. and Norvestor VII OS L.P. funds managed by Norvestor Equity AS.

Following the acquisition, Norvestor will become the largest shareholder in Presserv with approximately 80% of the shares; the management will hold the remaining shares.

Presserv, founded in 1996 and led by CEO Niklas Hermansson, has developed its unique concept within corrosion protection and preservation.

The company employs 26 people and had consolidated pro-forma revenues of NOK 64M in 2014 and NOK 96M ($11.4M) in 2015 and is expected to grow by more than 25% during 2016.