WorleyParsons agreed to acquire 100% of the shares of Bergen Group Rosenberg AS for a cash consideration of NOK 1 billion (including more than NOK 200 million of acquired cash). Norwegian-listed Rosenberg is a wholly-owned subsidiary of Bergen Group ASA. WorleyParsons expects the acquisition to finalize at the end of February.
"The impressive history, capability and depth of client relationships of Rosenberg provide the ideal platform for us to expand our presence in the Norwegian Continental Shelf offshore oil and gas market," said WorleyParsons CEO Andrew Wood. "I am excited that this acquisition will continue to strengthen and grow our ability to support our hydrocarbons clients in this region and globally particularly through our Improve offering and modular expertise."
Rosenberg currently employs approximately 650 people. Operating in a fully - integrated engineering, fabrication and construction environment, Rosenberg has a strong track record in the offshore oil and gas front end engineering and design, reimbursable EPC, long - term maintenance, modifications and operations, subsea fabrication, installation and hook - up markets.
The company has provided more than 100 years of continuous service to the maritime and offshore oil and gas industries, supplying high quality solutions engineered and fabricated at its facilities in Norway’s oil capital, Stavanger. From Stavanger it has strategic access to the Norwegian Continental Shelf (NCS) North Sea operations, now the largest offshore market in the world.
"We have been actively looking for a partner to help us grow our business and are very pleased that we now join the WorleyParsons group," said Rosenberg CEO, Kristin Færøvik. "We see that by combining the local Norwegian experience of Rosenberg with the global support of WorleyParsons, we can continue to expand our support to our clients."
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