HitecVision invests in Vryhof AnchorsCompany News // December 12, 2013
HitecVision has announced the acquisition of 71.3 per cent of Vryhof Anchors.
Vryhof Anchors is a leading global provider of the ultra high holding power drag anchors that are used in the offshore oil and gas industry, mainly by offshore floating drilling rigs and permanent floating offshore production systems. Management and key people will hold the residual shareholding in the company.
Vryhof Anchors was founded in the early 1970s. Since its inception, the company has been a leading provider of high holding power drag anchors to the oil and gas industry.
Their anchors are primarily used for station keeping of drilling rigs (semi-submersibles), FPSOs and single point mooring buoys.
Vryhof Anchors also offer ancillary mooring products and engineering services.
Headquartered in The Netherlands, Vryhof has a global reach from sales offices in The Netherlands, Russia, France, the US, Brazil and Singapore.
The company has sold over 9,500 anchors to customers all over the world.
Pre-HitecVision entry, Vryhof was entirely owned by the CEO Øyvind Wathne and Managing Director Henri Korsten.
The plan is to execute a buy and build strategy together with organic and quasi‐organic growth to consolidate a fragmented mooring product and foundation industry for floating offshore systems.
“We are very pleased to team up with a partner that has an impressive track record of inventing and commercializing products. The management team has created one of the strongest brands within the offshore mooring space.
"Vryhof is a niche supplier of a critical product to the oil and gas companies, which is a typical investment for HitecVision. We have followed the company for several years and believes that it has great future potential together with current management and HitecVision,” said Senior Partner Gunnar Halvorsen in HitecVision.