The management of Leirvik AS takes ownership of Leirvik AS and Emtunga AB

September 9 2021:  The management of Leirvik AS has together with Moreld AS, agreed to a management buyout (management acquisition). Through this, the ownership of Leirvik AS is back with local owners.

Helge Gjøsæter is proud that the 75-year-old cornerstone company will once again have local ownership: “I am very happy that we have been given the opportunity to secure local ownership of a company that has an important position in the local community, and which is positioned for global growth of sustainable solutions. We will do our utmost to continue to deliver world-leading quality solutions towards oil and gas, but also in increasingly towards aquaculture and infrastructure. With 260 highly competent employees, and a flexible organization I look forward to the way forward. It is a great strength for us that the management and co-investors will go into the ownership side. I would also like to thank Moreld for a constructive process with a common goal for the company’s development. »

Leirvik AS has a good order backlog and is well positioned for the green shift after more than 30 years’ work with large aluminium structures. Leirvik’s primary activity has been related to maintenance and life extension of living quarters, helidecks and related modules for the oil and gas industry. In addition, in recent years Leirvik has developed innovative solutions for large aluminium bridge-constructions and future solutions for the aquaculture industry.

Through the acquisition, Emtunga AB in Gothenburg will also be taken over. Emtunga is an international supplier of modular living quarters for oil and gas and is well positioned in the pharmaceutical industry and offshore wind.

Geir Austigard, CEO of Moreld, comments: “First and foremost, we wish Helge and his solid management team good luck; they are themselves the primus motor in this amazing cornerstone business and we wish them great success! The sale of Leirvik AS and Emtunga AB is part of Moreld`s strategy of gradually focusing on the business outside the oil industry, at the same time as it is important to us that each individual business in the group is continued in the best possible way.”

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