OEM International has today signed an agreement to acquire a majority of the shares in CRE8 Systems AS. CRE8 develops and manufactures hydraulic power units and chemical injection systems for the oil, gas, and energy sectors. Together with its subsidiary Gexsys, the company has 35 employees and is located in Stavanger, Norway. The company has annual sales of approximately NOK 170 million. OEM holds an option to acquire 100% of CRE8.
“CRE8, which has been operating since 2010, is known for combining innovative design, cost efficiency, and high quality, with a strong focus on customers’ specific needs. The acquisition marks OEM’s entry into the offshore industry – broadening our market presence in Norway and creating opportunities for further future business,” comments Jörgen Zahlin, CEO and Group President of OEM International.
“With OEM International, we gain a long-term, stable, and financially strong owner. We look forward to continuing to develop the company together with our new owners and becoming part of a larger group,” comments Morten Bøglid, former main owner and continued shareholder in CRE8.
Closing will take place on 11 February, and the acquisition is expected to have a positive impact on OEM’s results during the current year.
OEM International AB (publ)