The HitecVision funded company Flux Group acquires IKM Valves

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June 2014
Flux Group, a newly founded company owned by HitecVision, has agreed to acquire IKM Valves. The acquisition is a testament to Flux Group’s ambition to invest in and further develop IKM Valves. The management and all employees in the newly acquired company will stay on.
“This is a confirmation of the good work invested by management and employees in building IKM Valves. The new owners provide a great foundation for further growth”, says Leif Grønning, Managing Director of IKM Valves “HitecVision has an excellent track record for building and developing companies, and this will be beneficial for our customers, employees and suppliers.”

New opportunities
Leif Grønning is pleased that Flux Group wants to further develop IKM Valves.
“Our customers and employees are key players in our operations, and it is very important for us that this transaction benefits both groups,” Grønning continues.
All formalities regarding IKM Valves, e.g. VAT number, legal company name, telephone numbers, addresses and e-mail addresses, will stay the same until further notice.

Long-term approach
Flux Group’s goal is to develop preferred suppliers of equipment to the oil and gas market, specializing in customers with high safety and quality standards. IKM Valves is the Group’s first acquisition. The Group is planning more acquisitions in the near future.

“It is important that we develop companies based on their own identity. We are looking for companies with an entrepreneurial spirit, which is core to IKM Valves”, says Ådne Grødem, CEO of Flux Group. This is something that we want to encourage moving forward, in addition to giving our companies the opportunity to grow further through the Flux Group.”

“The goal for Flux Group is to build a long term, competitive group that can support customer needs meeting their cost optimization goals, whilst at the same time live up to their strict demands for safety, quality and the ability to deliver”, continues Grødem.

Flux Group is financed through HitecVision Fund VI, and is acquiring 100 per cent of the share in IKM Valves. The closing of the transaction is pending approval by the Norwegian Competition Authority.

For more information or questions, please contact:
Ådne Grødem, CEO, Flux Group, tel: +47 907 53 999
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