Newsletter 02.12.2015

FERD invests NOK 100 million in Viking Holding

The Norwegian conglomerate FERD has invested NOK 100 million in Viking Holding, the main shareholder of Viking Heat Engines. The money will go towards strengthening the company’s financial position to allow for continued growth and development of the CraftEngine Technology.

 

Kristian Eikre, Head of Special Investments at FERD, says the decision to invest was based on the solidity of the Viking Development Group, the potential of the CraftEngine technology, and the strength and enthusiasm of the management team and people working for Viking Heat Engines.

 

“A lot of passion and hard work has gone into making the CraftEngine technology into what it is today,” he says. “Based on what we saw, we came to the conclusion that this is a group of people we believe in and want to work with.”

 

This is the first time FERD has invested in the Viking Group, having traditionally focused on more mature companies.

 

“We have several companies in our portfolio that are exposed to the energy sector but none that’s similar to Viking Heat Engines,” Eikre says. “Renewable energy is a relatively new space for us, and we’re very excited about investing in it.”

 

Eikre has high hopes for Viking Heat Engines, and is open to increasing FERD’s equity exposure in the company if the opportunity should arise.

 

“We hope it will become a great success for the current shareholders, and offer potential for us to increase our ownership even further,” he says.

 

Tore Hansen-Tangen, chairman of Viking Holding, the main shareholder of Viking Heat Engines, is very excited to have FERD on board, and hopes they will eventually be involved in turning his company into a global operation.

 

“When it comes down to it, we’re a think tank,” he says. “We’re not an industrial group. FERD is a holding company that has investments in many industrial companies with international expertise, and we hope that, sooner or later, we’ll be able to access this expertise in order to build up Viking Heat Engines.”

 

Eikre hopes that when Viking Heat Engines starts to have success in the market and needs help with expanding internationally, FERD will be able to support them in this process. “But from what I’ve seen,” he says, “I think a lot of expertise already exists in house to make this journey a success.”

[Tilbake]
 
 
 
Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40 | firmapost@vdg.no