The US private equity fund Summit Partners has sold its shareholding of 26 % in the Danish oil company Welltec International to 7 Industries. Welltec develops and manufactures equipment used in the oil and gas industry. Welltec has developed significantly throughout Summit Partners’ period of ownership of eight years and today has a turnover exceeding USD 345 million with an EBITDA of USD 155 million. The company has +50 offices all over the world.
Horten has assisted Summit Partners in connection with the transaction.