EV Private Equity

Founded in 2002, EV Private Equity is an impact investment company headquartered in Stavanger, Norway, with additional offices in Aberdeen and Houston. The firm specializes in investing in sustainable, medium-sized technology businesses primarily in Europe and North America, focusing on sectors such as energy equipment, exploration, production, refining, and energy services. With a track record of over 4,000 deals, EV Private Equity has made thirty-seven investments and successfully exited eighteen companies. The company is staffed by professionals with extensive experience in the industry, investment, and transactions, supported by a broad network within the oil and gas sector. Through its commitment to sustainability and innovation, EV Private Equity aims to drive growth and create long-term value for its portfolio companies.

Matt Anstead

Investment Director

Pelle Bildtsen

CFO

Einar Gamman

Partner - Houston Office

Gammie, Victoria

Senior Analyst

Gregory Herrera

Senior Partner and Head

Greg Herrera

Senior Partner

Tomas Hvamb

Senior Partner

Kjell E. Jacobsen

Partner

Ole Melberg

Founder, Managing Partner

Jim Sledzik

Partner and President, Houston Office

Espen Strom

Partner

Helge Tveit

Managing Partner

Past deals in Oil and Gas

Trainor certification

Acquisition in 2020
Trainor is an international specialist company offering training, consultancy services and hire of qualified personnel within the areas of electrical safety, automation and processes within the oil and gas sector.

Motive Offshore Group

Private Equity Round in 2019
Motive Offshore Group is a manufacturer and provider of marine equipment tailored for the oil and gas industry, as well as the marine and renewables sectors. The company specializes in the fabrication and rental of high-capacity winches and umbilical deployment equipment, offering a diverse range of products that enhance operational efficiency and vessel uptime. In addition to its equipment offerings, Motive provides rental packages that include back deck equipment spreads and quayside transport services. The company's engineering capabilities encompass welding, fabricating, machining, painting, and testing, allowing it to meet the specific needs of clients engaged in both onshore and offshore operations while aiming to minimize greenhouse emissions.

Enpro Subsea

Private Equity Round in 2018
Enpro Subsea Ltd is a manufacturer based in Aberdeen, United Kingdom, specializing in subsea production optimization and intervention technologies. Founded in 2011, the company produces a range of equipment designed to enhance hydrocarbon production from subsea wells. Its offerings include multiple metering and pumping systems, fluid sampling and intervention tools, and flow assurance modules. Enpro Subsea also provides services related to life-of-field liquid intervention, attic oil recovery, and field development project management. The company's technologies focus on capital-efficient and flexible field development, supporting deepwater stimulation and pipeline commissioning. Enpro Subsea operates as a subsidiary of Hunting PLC.

Rival Downhole Tools

Private Equity Round in 2017
Rival Downhole Tools specializes in the development and manufacturing of downhole drilling and workover tools for the oil and gas industry. The company engages in extensive research and development programs, as well as design and engineering services, to create reliable and innovative solutions. Their offerings include licensing and patenting, manufacturing, testing, product verification, and a comprehensive range of sales and maintenance services. By focusing on quality and innovation, Rival Downhole Tools aims to provide oilfield companies with the necessary tools to operate efficiently under various conditions, while ensuring strict confidentiality in their projects.

Evolution Engineering

Private Equity Round in 2017
Evolution Engineering Inc. specializes in manufacturing measurement while drilling (MWD) products tailored for the oil and gas industry. Based in Calgary, Canada, the company designs and develops unified telemetry systems that integrate mud pulse and multi-channel telemetry technologies. These systems enhance drilling operations by providing reliable data transmission at rates up to 18 bps, with the ability to decode signals as low as 0.1 mV, and are capable of executing complex drilling maneuvers while mitigating unfavorable harmonics. Evolution Engineering also offers a range of engineering services for downhole drilling systems, including highside calculation and MWD self-deployment platforms. Their product offerings include the EVO ONE Unified Telemetry system, EVO EM, EVO PULSE, and various communication services such as EVO URx and EVO INTERCOM. Founded in 2011, the company is committed to delivering innovative solutions that prioritize safety and environmental responsibility in drilling operations.

Aquaterra Energy

Private Equity Round in 2017
Aquaterra Energy Ltd. is an offshore engineering company that provides technical support and solutions for the oil and gas industry both in the United Kingdom and internationally. Founded in 2005 and headquartered in Aberdeen, the company specializes in riser systems, offering a range of services including riser analysis, subsea and surface riser systems, connectors, and vortex-induced vibration suppression systems. Additionally, Aquaterra Energy develops solutions for offshore structures, such as sea swift platforms and subsea drilling templates. The company also offers a variety of rental and service options for equipment like tension rings, riser tension systems, and cold cutters. With offices in key locations including Cairo, Houston, and Dubai, Aquaterra Energy aims to enhance operational efficiency and reduce costs for its clients throughout the lifecycle of their projects, from initial development to decommissioning.

WellConnection Group

Acquisition in 2015
WellConnection Group is the leading company within inspection, maintenance and repair services (IMR) for drilling and subsea equipment on the Norwegian Continental Shelf. The group have strategic locations in Stavanger (Tananger and Hundvåg), Mongstad and Kristiansund with substantial production facilities and machinery, and delivers on the clients’ demand for efficient, best in class, one stop IMR services covering the whole of the NCS within the Subsea and Drilling segments.

Ingrain

Venture Round in 2015
Ingrain, Inc. specializes in rock characterization technology services for the upstream oil and gas industry, serving clients including super majors, national oil sectors, independents, government agencies, and service companies globally. The company offers a range of advanced technology solutions, including the CoreHD platform for high-definition imaging and logging of whole core samples, and the ReconHD system for analyzing drilling cuttings. Ingrain also provides ZoneID for detailed evaluations of shale rock characteristics, PoreHD for three-dimensional assessments of permeability and porosity, and CoreHD Plus for enhanced core data with petrophysical curves. Additionally, Ingrain conducts joint industry reservoir characterization studies and maintains a digital core library to assist operators in identifying productive formations and understanding rock properties critical for successful drilling. Founded in 2007 and headquartered in Houston, Texas, Ingrain operates additional offices in Brazil, the United Arab Emirates, Kuwait, and Colombia.

Hannon Westwood

Venture Round in 2015
Hannon Westwood has been a key advisor in the oil and gas sector for over 18 years, specializing in bespoke intelligence and business development services for the UK Continental Shelf (UKCS). Founded in 1993 by Jim Hannon and Charles Westwood, the firm is supported by a team of more than 20 experienced professionals with extensive global exploration and production expertise. Over the past five years, Hannon Westwood has facilitated investments totaling $3.5 billion by providing board-level insights and consultancy services. The company's offerings are backed by a proprietary UKCS database that encompasses over 4,000 working interests, 1,500 prospects, and 425 discoveries, along with detailed ownership and resource data for each block and field. Hannon Westwood is frequently consulted by the UK Government and industry leaders for expert commentary and insights, reinforcing its position as a trusted source of intelligence in the oil and gas industry.

Romar

Venture Round in 2014
ROMAR’s core business is in the provision of magnetic separation products and services for the offshore oil & gas industry, but the company has also developed a number of complementary technologies associated with drilling fluids management. The ROMAR Packer Management System proactively monitors inflatable slip joint packers for evidence of wear or failure, thereby mitigating the risk of accidental mud spillage into the environment.

FourPhase

Venture Round in 2014
FourPhase is a company that specializes in designing and developing desander technology for the oil and gas industry, focusing on the effective management of produced solids. Established in 2012 and based in Os, Norway, FourPhase offers a range of products, including single and double desanders, choke manifolds, valve skids, and pressure test units. These solutions are designed to enhance oil and gas production by efficiently removing sand and sediments from wells. FourPhase’s technology employs patented cyclone systems that are applicable in various contexts, including oil and gas well operations, well intervention, and zero flaring initiatives. The company's innovative approach aims to improve operational efficiency while reducing costs per barrel, thereby extending the life of oil and gas wells and increasing recovery rates.

Ziebel AS

Venture Round in 2014
Ziebel AS, founded in 2006 and headquartered in Tananger, Norway, specializes in well intervention services for the global oil and gas industry. The company offers innovative technologies, particularly the Z-System, which utilizes a fiber optic composite rod to enable real-time access and visualization of well bores. Ziebel's technology supports various applications, including Distributed Temperature Sensing (DTS) for leak detection and integrity monitoring, as well as Distributed Acoustic Sensing (DAS) for fluid movement visualization and flow pattern recognition. Its solutions, such as the Z-Rod and Z-Line, are designed for safe deployment into producing or injecting wells, providing operators with critical data to enhance production efficiency and safety. Ziebel also maintains a web platform, Z-Community, to facilitate resource sharing and training for its employees and partners worldwide.

SageRider

Venture Round in 2013
SageRider Inc. is an industrial company based in Stafford, Texas, specializing in providing technical solutions for the oil and gas sector. As a subsidiary of Madison Industries, SageRider focuses on subsurface surveillance technology, fiber optics, and reservoir evaluation. The company's innovative and cost-efficient products and services are designed to enhance data collection methods, helping clients achieve significant cost savings by maximizing production and optimizing overall field development. SageRider is committed to delivering effective solutions that cater to the specific needs of its industry, ensuring that clients can maximize the value of their assets. For further inquiries, details are available on their website.

Reach Production Solutions

Venture Round in 2013
Reach Production Solutions is a Houston-based company that specializes in developing advanced compression solutions for oil and gas well operators. Established in 2009, the company focuses on enhancing production from multiphase wells through innovative technologies that streamline operations and minimize costs. Its offerings include the evaluation and simulation of well portfolios, surface installations, and ongoing monitoring and maintenance of production systems. Reach Production Solutions also provides artificial lift and frac hit recovery solutions, which are designed to be more efficient than traditional methods by reducing the need for costly interventions. The company's technology features fewer moving parts, resulting in lower vibration and noise, as well as improved efficiency and reduced infrastructure costs.

DeepFlex

Venture Round in 2013
DeepFlex, Inc., a Houston-based manufacturer of all-composite flexible pipe used in subsea oil and gas production environments.

Abrado Wellbore Services

Venture Round in 2013
Abrado Wellbore Services focuses on enhancing wellbore environments to improve oil and gas extraction efficiency. The company develops advanced tools for wellbore care and maintenance, including product casing and riser cleanout solutions. It also provides both real-time and memory-based downhole video services, utilizing innovative technologies to support organizations in optimizing wellbore productivity. Through these offerings, Abrado Wellbore Services aims to assist clients in effectively discovering and extracting resources from the earth.

Zilift

Venture Round in 2012
Zilift Limited is an oil and gas technology company that specializes in developing advanced magnet technologies for artificial lift applications. Founded in 2009 and based in Aberdeen, United Kingdom, with an additional location in Bakersfield, California, Zilift focuses on creating high-efficiency downhole drive systems. Its product offerings include TorqueDrive, an integrated system for progressing cavity pumps (PCP), and SpeedDrive, a compact electrical submersible pump (ESP). TorqueDrive enhances pump performance while addressing common failure modes associated with traditional systems, allowing for improved wellbore placement options. SpeedDrive, recognized for its unique 2 5/8" diameter, can be deployed using wireline, facilitating applications in restricted access environments and enabling live well interventions without costly rig workovers. Zilift's innovative technologies aim to reduce lifting costs and expand deployment possibilities for artificial lift systems in the oil and gas industry.

Health Safety and Engineering Consultants

Acquisition in 2012
Health Safety and Engineering Consultants Ltd. is a consultancy firm specializing in engineering risk management and compliance services. Established in 1991 and based in Ashby-de-la-Zouch, United Kingdom, the company offers a range of professional services, including auditing, compliance, training, and documentation across various engineering disciplines such as mechanical, structural, electrical, and control engineering. Its client base spans multiple industries, including manufacturing, mining, rail, defense, oil and gas, and food sectors. The firm is dedicated to enhancing engineering practices, reducing risks, and ensuring regulatory compliance, thereby contributing to the operational success and profitability of its clients.

Energy Drilling

Venture Round in 2012
Energy Drilling specializes in the development, construction, and operation of self-erecting tender assist drilling rigs, primarily serving the offshore drilling market. The company is dedicated to providing high-quality services to oil and gas operators, leveraging a team with extensive experience in managing the delivery of new tender drilling rigs. Energy Drilling has a proven track record in developing specifications, overseeing construction, and operating these rigs for major oil companies. The company emphasizes the importance of safety and environmental stewardship in its operations, striving to enhance the efficiency and safety of tender-assisted drilling processes through innovative solutions.

2TD

Venture Round in 2012
2TD Drilling AS aims to become a leading supplier of advanced drilling tools for the oil and gas market.

Reach Production Solutions

Venture Round in 2011
Reach Production Solutions is a Houston-based company that specializes in developing advanced compression solutions for oil and gas well operators. Established in 2009, the company focuses on enhancing production from multiphase wells through innovative technologies that streamline operations and minimize costs. Its offerings include the evaluation and simulation of well portfolios, surface installations, and ongoing monitoring and maintenance of production systems. Reach Production Solutions also provides artificial lift and frac hit recovery solutions, which are designed to be more efficient than traditional methods by reducing the need for costly interventions. The company's technology features fewer moving parts, resulting in lower vibration and noise, as well as improved efficiency and reduced infrastructure costs.

ProSep

Venture Round in 2011
ProSep is dedicated to providing process solutions to the upstream oil and gas ("O&G") industry. ProSep designs, develops, manufactures, and commercializes technology-based process solutions to treat oil, gas and water for the onshore and offshore O&G industry. In addition to offering a complete suite of conventional process solutions, ProSep commercializes its own proprietary technologies that aim to improve production output for customers while reducing operating expenses.

Geoteric

Venture Round in 2010
Geoteric is a global leader in the development and commercialization of advanced 3D seismic analysis technology, focusing on enhancing the interpretation of subsurface data. The company specializes in artificial intelligence-based geological imaging technologies that offer interactive tools for data conditioning, noise attenuation, and spectral shaping. These innovations improve the signal-to-noise ratio, facilitating optimal structural interpretation and attribute analysis. By presenting data intuitively, Geoteric enables interpreters to leverage their expertise effectively, which enhances operational efficiency and safety. The company's client base includes over 100 exploration and production companies worldwide, comprising leading national oil companies and integrated energy firms.

Zilift

Venture Round in 2010
Zilift Limited is an oil and gas technology company that specializes in developing advanced magnet technologies for artificial lift applications. Founded in 2009 and based in Aberdeen, United Kingdom, with an additional location in Bakersfield, California, Zilift focuses on creating high-efficiency downhole drive systems. Its product offerings include TorqueDrive, an integrated system for progressing cavity pumps (PCP), and SpeedDrive, a compact electrical submersible pump (ESP). TorqueDrive enhances pump performance while addressing common failure modes associated with traditional systems, allowing for improved wellbore placement options. SpeedDrive, recognized for its unique 2 5/8" diameter, can be deployed using wireline, facilitating applications in restricted access environments and enabling live well interventions without costly rig workovers. Zilift's innovative technologies aim to reduce lifting costs and expand deployment possibilities for artificial lift systems in the oil and gas industry.

Stingray Geophysical

Venture Round in 2010
Stingray Geophysical specializes in providing Permanent Reservoir Monitoring (PRM) solutions tailored for the global oil and gas industry. The company offers reliable and cost-effective services that assist energy companies in monitoring the movement, levels, and pressure of hydrocarbons within reservoirs. Through its advanced seismic technology, Stingray Geophysical enables clients to enhance production, boost hydrocarbon reserves, and effectively manage associated risks and costs.

Oxane Materials

Venture Round in 2008
Oxane is commercializing nanotechnology-enhanced propping agents (“proppants”) that address “Holy Grail” oil and gas technical challenges. OxFrac is a hydraulic fracturing proppant that combines superior proppant transport (“low weight”) with ceramic conductivity (“high strength”). OxFrac's value proposition is multifaceted and can be summarized as "more oil, more gas, more quickly." Modeling suggests that OxFrac should improve initial production by 50%, shallow production decline by as much as 15%, and improve total recovery by as much as 30%. These value components are compounded when it is considered that OxFrac should also afford the meaningful cost and environmental benefits. Oxane is focused on providing benefits to its investors, customers, and all other stakeholders.

Fotech

Series A in 2008
Fotech Solutions Limited specializes in developing distributed acoustic sensing solutions primarily for the oil and gas, pipeline, and security sectors. The company offers advanced acoustic monitoring systems that provide real-time intelligence, enabling operatives to detect pipeline leaks and other critical issues. Among its key products is LivePIPE, which enhances monitoring capabilities for pipeline operations. Fotech’s technology facilitates asset surveillance and includes interpretive tools that allow engineers to visualize and record data in real-time. Established in 2006 and headquartered in Church Crookham, United Kingdom, Fotech also maintains offices in Calgary, Canada, and Houston, Texas. The company collaborates with a network of partners to deliver its solutions both domestically and internationally.

ARKeX

Series C in 2008
ARKeX is a geophysical service company that helps explorationists to gain a complete picture and a better understanding of subsurface geology. Through a multi-disciplinary and integrated approach, ARKeX delivers invaluable geological information to oil and gas exploration companies as well as the mining industry. Operating using a variety of techniques, technologies and methodologies, ARKeX provides the answers to meet today's exploration challenges.

Deep Casing Tools

Funding Round in 2008
Deep Casing Tools (formerly Futuretec) is managed by a team of seasoned industry professionals with more than 200 years of Oil and Gas experience between them. Deep Casing Tools’ products are designed by engineers, for engineers. They combine innovative design with precision engineering to develop and manufacture a suite of game-changing technology which enables oilfield engineers to land first time at target depth in the increasingly demanding wellbore conditions faced by today’s industry professionals.

Direct Drive Systems

Venture Round in 2008
Direct Drive Systems (DDS) specializes in the development and manufacture of high-speed, high-power synchronous motors and generators that utilize permanent magnet technology. Established in 2004 as a spin-off from Calnetix, DDS focuses on delivering efficient and cost-effective solutions for compression, pumping, and power generation across the oil and gas and process industries globally. The company's permanent magnet motors and generators can operate at speeds up to 23,000 RPM, providing power outputs of up to 12 MW at the shaft. By coupling directly to loads without the need for gearboxes, DDS products enhance efficiency while minimizing size, weight, and overall capital and operating costs. In addition to their core offerings, the company manufactures magnetic bearings and power electronics, catering to critical applications in pipeline, marine, and offshore environments.

Add Energy Group

Venture Round in 2008
Add Energy Group is an oil service company headquartered in Stavanger, Norway, offering a range of consultancy and engineering services tailored for the oil and gas industry across multiple regions, including Europe, Asia Pacific, North America, and the Middle East. The company operates through three main segments: Integrity Assurance, Well Management, and Risk & Well Engineering. The Integrity Assurance segment specializes in well control response, emergency planning, and asset integrity services, utilizing proprietary software and simulations. Well Management focuses on project management for well operations, while the Risk & Well Engineering segment covers subsurface and completion engineering, drilling safety, and crisis management. With a strong commitment to quality and client relationships, Add Energy Group has established itself as a trusted service provider, supported by a comprehensive client base and numerous Master Service Agreements developed over its decades of operation since its founding in 1986.

Cubility

Venture Round in 2007
Cubility AS is a Norwegian company focused on transforming drilling operations in the energy sector through its innovative MudCube system. This technology replaces traditional shakers with a fully enclosed unit designed for improved waste management, enhancing well control and safety while minimizing environmental risks. Recognized as Proven Technology by Statoil in 2012, the MudCube utilizes vacuum and conveyor belt principles to eliminate oil mist emissions and reduce noise levels, significantly improving the working environment for operators. The system has been deployed at various drilling sites, including the North Sea and the U.S. Marcellus shale play, with its first commercial installation occurring on the Mærsk Giant in 2012. By streamlining solids control equipment into a single integrated solution, Cubility not only aims to lower operational costs and carbon emissions but also to effectively address the challenges associated with waste in the oil and gas, construction, and aquaculture markets.

Stingray Geophysical

Series A in 2006
Stingray Geophysical specializes in providing Permanent Reservoir Monitoring (PRM) solutions tailored for the global oil and gas industry. The company offers reliable and cost-effective services that assist energy companies in monitoring the movement, levels, and pressure of hydrocarbons within reservoirs. Through its advanced seismic technology, Stingray Geophysical enables clients to enhance production, boost hydrocarbon reserves, and effectively manage associated risks and costs.

Ziebel AS

Venture Round in 2006
Ziebel AS, founded in 2006 and headquartered in Tananger, Norway, specializes in well intervention services for the global oil and gas industry. The company offers innovative technologies, particularly the Z-System, which utilizes a fiber optic composite rod to enable real-time access and visualization of well bores. Ziebel's technology supports various applications, including Distributed Temperature Sensing (DTS) for leak detection and integrity monitoring, as well as Distributed Acoustic Sensing (DAS) for fluid movement visualization and flow pattern recognition. Its solutions, such as the Z-Rod and Z-Line, are designed for safe deployment into producing or injecting wells, providing operators with critical data to enhance production efficiency and safety. Ziebel also maintains a web platform, Z-Community, to facilitate resource sharing and training for its employees and partners worldwide.

ARKeX

Series B in 2005
ARKeX is a geophysical service company that helps explorationists to gain a complete picture and a better understanding of subsurface geology. Through a multi-disciplinary and integrated approach, ARKeX delivers invaluable geological information to oil and gas exploration companies as well as the mining industry. Operating using a variety of techniques, technologies and methodologies, ARKeX provides the answers to meet today's exploration challenges.

Norse Cutting & Abandonment

Venture Round in 2005
Norse Cutting & Abandonment offers oilfield services to firms in the oil and gas industries. The company’s product portfolio consists of subsea and surface. Subsea consists of drilling, completion, installation, production, and decommissioning. Surface consists of inspection, maintenance, repair, asset integrity, and data solutions. Furthermore, it provides entertainment systems, naval, marine, and space systems services to its clients. Norse Cutting & Abandonment was founded in 1999.

Sense EDM

Venture Round in 2005
Sense EDM manufactures and distributes a range of rigs and tubular handling systems for firms in the oil and gas industries. It was founded in 2000.

MTEM Limited

Series A in 2004
In 2001 Anton Ziolkowski, Bruce Hobbs and David Wright of the University of Edinburgh invented a new electromagnetic method to detect sub-sea and underground hydrocarbons. In 2003 they founded MTEM Ltd. to develop the technology and provide land and marine surveys to oil companies. In November 2004 MTEM Ltd. was launched from the University of Edinburgh with £7.4M of funding from three equal investors: HitecVision, Energy Ventures, and Scottish Equity Partners. MTEM Ltd. developed and built systems to perform land and marine transient electromagnetic surveys that can identify hydrocarbons before drilling, thus reducing the risk of drilling “dry” wells and saving millions of dollars per well. In June 2007 Petroleum Geo-Services (PGS) bought MTEM Ltd. for $275M. The University of Edinburgh’s share of the sale was £8.6M, of which £2.6M funded 164 PhD studentships. PGS continues to develop the technology.

Caltec

Venture Round in 2004
Caltec is a specialist production technology company with products aimed at the enhancement of production from mature fields. These include the Wellcom system which boosts production flowrates by lowering wellhead pressures, and the I-SEP system which allows the partial separation of gas, oil, water and solids. In combination, these systems are capable of significant production, recovery and longevity improvements to mature fields.

Advanced Production and Loading

Venture Round in 2004
Advanced Production and Loading (APL) is a market leader in the development, fabrication and sale of advanced systems for the offshore production, specialising in storage and transport of oil and gas by ships.APL was listed on the Oslo Stock Exchange in March 2005.

SeaBird Exploration

Venture Round in 2003
SeaBird Exploration provides seismic services for the international oil and gas industry. The SeaBird Exploration group has played an active role in the seismic market since 1996 and is one of the largest provider of 2D, Source and Shallow water 2D/3D seismic services in the industry. Their independent position enables us to offer a full range of services to oil and seismic companies world wide. SeaBird Exploration’s main goals are customer satisfaction with commitment to quality, health, safety, environment, and service which are assured by compliance to Their QHSE program.
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