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Moreld Group AS (Moreld) today announced the sale of its 67 percent ownership interest in Apply Capnor AS (Capnor) to Hawk Infinity Software AS. The transaction is in line with Moreld’s strategy to optimise its portfolio and capital allocation. The transaction implies a total enterprise value of Capnorof NOK 300 million, yielding an EV/EBITDA multiple of 6.7x. Apply Capnor contributes to less than 5% of Moreld’s consolidated EBITDA.

Moreld, a multi-disciplinary engineering group serving top-tier customers in offshore energy and marine industries, is pleased to announce to have entered into an agreement with HitecVision to acquire Ocean Installer, a leading provider of marine construction and offshore energy solutions.

McIntyre Partners, a private investment firm that partners with management teams to acquire businesses from corporate and financial sellers, is pleased to announce it has entered into an agreement with HitecVision, a leading provider of institutional capital to Europe’s energy industry, and has acquired Moreld.

Moreld Apply has been awarded a contract for Gina Krog Low-pressure Production from Equinor. The work will be carried out from the company’s office in Stavanger.

Moreld Apply has been awarded a contract for the Eirin Topsides Tie-In to Gina Krog by Equinor. The work will be carried out from the company’s office in Stavanger.

Moreld Apply has been awarded a contract by Equinor for the FLX Future Energy project. Moreld Apply, in conjunction with Equinor, has developed a concept and technical solution for implementing a steam turbine system on Statfjord C since the summer of 2022. Waste heat from the gas turbine will be utilized to generate steam, which in turn will be used to produce electricity.

Moreld Apply has been awarded a contract by AkerBP for the EdvardGrieg Topside Modification EPCi which forms part of the Utsira High Tie-Backs project.

Moreld has signed a Memorandum ofUnderstanding (MOU) with Logan Energy Limited for the development and deliveryof technical solutions and services for hydrogen applications.

Moreld Apply has been awarded a FEED study by Lundin Energy Norway AS for the Edvard Grieg Tie-backs phase II project.

Moreld Apply has been awarded an extension to its existing frame agreement with Equinor to deliver maintenance and modification services for oil and gas installations on the NCS. The three years contract covers the scope of work as previously contracted in 2016, and will strongly focus on safe and cost effective, sustainable solutions for the fields operated by Equinor. The agreement comes into effect from March 1st, 2023.