Norvestor VI LP has agreed to invest in iSURVEY Group AS, aiming to enhance the company's growth in the global oil and gas market.

Target Company Overview

Norvestor VI LP, managed by Norvestor Equity AS, has entered into an agreement to invest in iSURVEY Group AS, a prominent provider of survey and positioning services primarily catering to the global oil and gas industry. Established in 2004 by a team of seven industry veterans, iSURVEY has experienced significant growth, currently employing 90 professionals and generating a turnover of NOK 125 million in 2012.

With a robust foothold on the Norwegian Continental Shelf (NCS), the company has also ventured into select international markets. To bolster its presence in the Asian markets, iSURVEY opened an office in Singapore in 2011, focusing on areas such as rig positioning, seabed surveying, and subsea construction services.

Industry Overview

The oil and gas sector in Norway remains a cornerstone of the country's economy, significantly contributing to its GDP and employment rates. A