Triton Acquires Techouse AS, Expanding Presence in Offshore Energy Sector

Triton Acquires Techouse AS, Expanding Presence in Offshore Energy Sector

(IN BRIEF) Triton, through a vehicle controlled by Triton Fund IV, has acquired Techouse AS, a renowned provider of energy recovery and water treatment solutions to the offshore oil and gas sector. The acquisition aims to bring Techouse under a group holding structure with Cubility AS, an innovator of solid control systems and an existing portfolio company of Triton. The transaction details have not been disclosed. Techouse, founded in 2002, specializes in delivering innovative water treatment and energy recovery technologies through engineered systems, resulting in improved energy efficiency, cost reduction, and lower emissions. With offices in multiple locations, Techouse employs around 160 people. The CEOs of Cubility and Techouse express excitement about the partnership and envision significant synergies in engineering capabilities, market reach, and services expansion. They plan to pursue both M&A opportunities and organic growth to further expand the businesses.

(PRESS RELEASE) OSLO, 7-Jul-2023 — /EuropaWire/ — Triton, a private equity investment firm with focus on medium-sized businesses across Europe, operating through a vehicle controlled by Triton Fund IV, has reached an agreement with Bluewater Private Equity to acquire Techouse AS (“Techouse”). The acquisition aims to integrate Techouse into a group holding structure alongside Cubility AS (“Cubility”), an innovative solid control systems company and a current portfolio company of Triton Fund IV. The terms of the transaction remain undisclosed.

Established in 2002, Techouse has earned a prominent reputation as an industry leader in providing energy recovery and water treatment solutions to the offshore oil and gas sector. The company specializes in delivering cutting-edge water treatment and energy recovery technologies through engineered systems, designed to enhance energy efficiency, reduce costs, and minimize emissions. With approximately 160 employees, Techouse is headquartered in Sandnes, Norway, and maintains additional offices in Vanvikan, Tønsberg, Glasgow, Paris, Qingdao, and Oslo.

“We are excited to create a larger group that will help us compete in global markets more effectively and we see significant synergies in strengthened engineering capabilities and market reach with significant services expansion potential and cross-utilization of resources. Furthermore, we intend to continue expansion and will pursue both M&A and organic growth opportunities together”, says Kai Sæveland, CEO Cubility.  

“We are very excited about this new partnership. Both Cubility and Techouse share a commitment to provide innovative solutions that help clients improve both their efficiency and environmental footprint, by spearheading technology and engineering excellence. By joining forces, and with the support of a committed owner, we will leverage an innovation legacy and pioneering mindset to grow our businesses together”, says Svein Helge Pettersen, CEO Techouse.

The integration of Techouse into the Triton group holding structure marks a significant milestone in expanding Triton’s presence in the energy sector and reinforces its dedication to delivering cutting-edge technologies and engineering excellence.

About Cubility
Established in 2005, Cubility specializes in filtration, solids control, and waste treatment solutions for various applications in the oil and gas industry. Cubility has been commercially delivering the MudCube since 2012 and has additionally launched the PureCube, catering to markets beyond oil and gas.

With the mission to deliver innovative technologies that exceed expectations for efficiency while addressing environmental impact of industrial activities, Cubility has continuously pushed the boundaries of innovation and has achieved significant milestones in the industry. Headquartered in Sandnes, Norway, Cubility has expanded its reach, with sales offices in the United States and Chile and a strong network of distribution partners across the globe.

About Techouse
Founded in 2002, Techouse is a renowned industry leader in providing energy recovery and water treatment solutions to the offshore oil and gas sector. The company’s expertise lies in delivering innovative water treatment and energy recovery technologies through engineered systems, designed to optimize energy efficiency, reduce costs, and minimize emissions.

About Triton
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on businesses that provide important goods and services in the Business Services, Industrial Tech, Healthcare, and Consumer sectors.

Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

Press Contacts
Triton
Fredrik Hazén
+46 709 483 810

SOURCE: Triton Investments Advisers LLP