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On 10 January 2025 it was announced that EY Corporate Finance acted as financial advisor to the shareholders of Delta-p, Pumpe og Kompressor Systemer AS (“Delta-p” or the “Company”) in the merger with Haakon Larsen AS and Greenerway AS to form Shift Energy Holding AS (“SEH” or the “Group”). The shareholders of Delta-p will reinvest in the Group to gain a 50 % stake.
Delta-p is a leading turnkey specialist providing fully engineered rotating equipment system packages, with a 20-year track record of successful deliveries to the Oil & Gas industry globally. Delta-p’s subsidiary, FluiMix AS, which delivers auto sampling systems for oil export and refineries to the MENA region, is also included in the transaction.
Haakon Larsen AS specializes in solid/liquid separation and provides centrifuges for MEG regeneration systems worldwide, serving Oil & Gas and Industrial segments. Greenerway AS supplies battery system installations, fast charging infrastructure, and energy management software for the electrification of heavy trucks in Norway.
Shift Energy Holding, which delivered pro-forma turnover of c. NOK 500 million in 2024, will be an industrial platform pursuing further growth, both organically and inorganically, focusing on active and permanent ownership of businesses with heritage from the Norwegian Energy sector.
In addition to serving as the financial advisor to Delta-p, EY provided financial due diligence services for all transaction parties and Tax and VAT due diligence services, showcasing EY’s capabilities as a one-stop-shop for transaction services.
EY would like to congratulate all parties involved on a successful transaction!
Learn more of the transaction here.
The deal team comprised of:
Corporate Finance: Ole Conrad Siem (EP), Christian Sandbeck Walther (EM), Zain Hussain, Magnus Brath Skurdal and Emi Mataev
Financial Due Diligence: Kim Lutcherath, Trond Kvam, Joachim Arnesen and Jakob Opsahl
Tax and VAT Due Diligence: Harry Veum, Gaute Ebeltoft, Ørjan Ravna Rørmoen and Nadia Jarnæs Risnen
Below is a selection of recent transactions supported by EY, and you can also find a more extensive list on our Strategy and Transactions page.