Lars Horgen Hinze
Phone: +47 23 89 40 00
Mobile: +47 92 05 03 60
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Investcorp announced June 6 the acquisition of ABAX, an international market leader in the development and supply of vehicle tracking systems technology.
The seller, Norvestor VI L.P., receives NOK 1.8 billion for ABAX, which make the transaction one of the largest in the Norwegian market year to date. The press release from Investcorp is available here.
The team from Arntzen de Besche has been led by partner Lars Horgen Hinze, and the core team has otherwise consisted of Per A. Dagslet, Pål Arne Reinertsen, Anders Bugge Simonsen, Atle Gabrielsen and Andreas Nordby.
ABAX develops hardware and software for order management systems, fleet tracking and equipment and vehicle control systems and has 350 employees. The company has offices and operations in eight countries: Norway, Sweden, Denmark, Finland, UK, The Netherlands, Poland and China.
Investcorp manages USD 22.2 billion, is headquartered in Bahrain and is listed on the Bahrain Stock Exchange. The company has previously invested in Helly Hansen, the Norwegian producer of textiles.