Hitec Products AS acquires Fluid Control AS

Fluid Control AS is a Norwegian service provider for high pressure equipment, hoses, fittings and related modules and services to the oil and gas and marine industries. The decline in the norwegian oil industry put a great deal of pressure on  the company, and in 2015 Fluid Control had a drop in revenue from NOK 314 million to NOK 257 million and an EBIT of NOK -26.3 million. At the end of October 2016 the company had to file for bankruptcy.

Hitec Products identified a great potential in the company and acquired it shortly after the bankruptcy. BOLT Corporate Finance AS assisted Hitec Products in the acquisition.


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