Triton Partners, the UK based private equity firm, has agreed to acquire Cubility AS, the Norway based company that develops exploration and drilling equipment and systems, from Energy Ventures AS, the Norway based venture capital firm, for an undisclosed consideration.
The acquisition is in line with Triton Partners’s investment strategy to invest and expand in the sector. The transaction will help Cubility in its future growth and expansion in the sector and grow its business operations. The transaction is expected to complete by mid April 2014.
Prior in 2007, Energy Ventures has acquired an undisclosed stake in Cubility AS, for a consideration of USD 6.5m.
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