C.W. Downer & Co., is pleased to announce that Hatteland Display (“Hatteland”), the leading global manufacturer of marine displays and computers, has been sold to Norautron Group AS, a privately held Norwegian technology company with an international footprint. The transaction closed on December 1, 2015 and the value was not disclosed.
Headquartered in Nedre Vats, Norway, Hatteland is the global market leader in ruggedized displays and computers focused solely on the marine industry. Hatteland is regarded as the industry’s innovator with the most comprehensive offering across all marine segments (commercial, offshore oil & gas, naval and recreational). The Company operates out of two modern manufacturing facilities in Norway, including an in-house optical bonding facility. With its own sales offices in Norway, Germany, France, and the US, as well as agents located in Asia, Australia, Canada, Russia and the US, Hatteland is excellently positioned to serve its global customer base.
Tore Rynning-Nielsen, Senior Partner at Herkules, said in a company statement, “We are glad to sell Hatteland to a highly complementary industrial corporation such as Norautron Group as we are confident that both Hatteland and Norautron will benefit greatly from this new setting.” Trond K. Johannessen, President & CEO of Hatteland said in a company statement, “We are excited about becoming a part of Norautron. There is a strong industrial logic in combining the strengths of the companies to further improve competitiveness and market positions.”
“The Hatteland transaction is a further example of our strength in the Scandinavian mid-market and our ability to effectively market mid-sized businesses to strategic buyers,” commented Frank Merkel, Managing Director at C.W. Downer & Co. “Moreover, the transaction is a strong testimonial to our continued focus on the marine industry. After completing the sale of EVAC to IK Investment Partners in December last year, Hatteland marks our second successful transaction in this sector within the last 12 months.”
The C.W. Downer & Co. team assisting Herkules with the sale included Frank Merkel (Managing Director & Partner), Mike Howell (Managing Director & Partner), Michaela Pfeifenberger (Director), Stefan Meier (Associate), and Nils Brils (Analyst).
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