ABG Sundal Collier (“ABGSC”) acted as financial adviser to General Oceans AS (the “Company” or “General Oceans”) in relation to Ferd’s significant minority investment

On 19 December 2023, General Oceans AS announced the successful completion of its investment from and partnership with Ferd through inviting them as a significant minority shareholder into the Company. General Oceans, a global provider of world-leading underwater technology to customers within research, academics, defense, and marine construction with leading market positions in attractive niches such as underwater acoustics, will following the transaction be supported by its founder and CEO Atle Lohrmann (56%) and Ferd. The initial transaction brings Ferd to around 25% ownership for a total investment of approximately NOK 400m through primary and secondary capital.
The transaction will provide General Oceans with significant growth capital, and Ferd has further agreed an intention to increase their ownership towards 34% in due course after the initial transaction. Following completion, the Company will be well positioned to further accelerate its organic and in-organic growth ambitions and to act on the market opportunity in the wider underwater technology ecosystem. As of 2023, General Oceans had more than NOK 800m in pro-forma revenues with strong margins and has since inception completed four acquisitions to build the group around its centerpiece subsidiary, Nortek AS.
ABGSC acted as financial advisor to General Oceans AS and its shareholders in the transaction and would like to extend its gratitude to the Company and Atle Lohrmann for the vote of confidence.