Akastor is an oil-services investment company with a portfolio of industrial and financial holdings. The company has a flexible mandate for active ownership and long-term value creation.
Akastor’s most valuable company is MHWirth, which specialises in the development and delivery of sustainable technologies to the drilling market. Akastor has unlocked more than NOK 6 billion through divestments since it was spun out from Aker Solutions as a non-core operation in 2014.
Aker’s ownership agenda
Akers owns 36.7 percent of the shares in Akastor. Aker’s main ownership priorities for Akastor are operational improvements and cost reductions, winning new contracts and securing new transactions. Aker encourages Akastor to play an active role in the transactional market, both to free up capital and to seize opportunities to generate value.
Completed transactions demonstrate that Akastor’s portfolio companies often offer added value which can be realised in larger, more effective units in industrial constellations. Aker will continue to drive forward these efforts in its capacity as owner.
Kristian Røkke and Svein Oskar Stoknes represent Aker on Akastor’s board of directors.
Aiming to list MHWirth
The drilling technology company, MHWirth, has a positive development, especially driven by a boost in the after-sales market. Its 2019 acquisition of Bronco Manufacturing, which manufactures equipment and supplies engineering and other services to the global market for onshore drilling, has strengthened MHWirth’s market position.
The ambition is to grow MHWirth organically and through acquisitions. The aim is to list the company on an independent basis or as part of an industrial, structural solution.