Acquisition
Future Production, a global provider of product-based solutions to the offshore maintenance, modification and operations (MMO) and renewable energy industry segments, has been acquired by the Dutch industrial group Huisman.
Future Production’s products are built on modular designs and adapted to the layout of each rig and platform and/or installation site. Design, engineering and project management are done in Kristiansand, while fabrication is outsourced to a network of qualified suppliers.
This asset-light model allows the company to grow without large capacity investments. Since 1999, Future Production has made more than 650 deliveries to over 90 rigs worldwide. Today, the company has around 40 employees.
Its design and engineering capabilities have also been proven in adjacent industries, including the hydropower industry.
After a long period of disciplined spending among rig owners, activity has gradually increased in recent years, and order intake at Future Production has increased strongly.
“We have invested in our team also during the prolonged downturn in our industry because we knew competence would make the difference when activity returned. We believe the rig market will stay strong, and many rigs will need upgrades. Our competence has also proved attractive in adjacent industries. Norvestor has been a very committed and supportive owner during their ownership. We now look forward to developing the company further as part of the Huisman group,” says Torstein Bringa, CEO of Future Production
David Roodenburg, CEO of Huisman: “Future Production is a strong and agile company with valuable expertise and close relationships with its clients. Combined with Huisman’s important and growing client relationships in Norway and our global execution and service capabilities, we see great potential for the company to build on these strengths and continue its growth as a standalone business. As a family-owned company, Huisman takes a long-term perspective, and we look forward to supporting Future Production in its next phase of development while preserving the entrepreneurship and agility that make the company successful.”
