Flux Group acquires hoses & couplings division

Flux Group has entered into an agreement to acquire Active Service – the “Hoses & Couplings” division from Fluid Control. The acquisition is in line with the Flux Group strategy to become a leading supplier of equipment to the oil and gas industry. The Hoses & Couplings division was the largest part of the now bankrupt Fluid Control and had a turnover of approximately NOK 160 million in 2015.

”We are very pleased to have entered into this agreement with Hitec Products just days after they acquired Fluid Control. There are challenging times in our markets, and I think that both Flux Group and Hitec Products are strengthened through this agreement – to the benefit for the oil service clusters in the Bergen- and Stavanger regions”, says Flux Group CEO Ådne Grødem.

Active Service constitutes the largest part of the Fluid Control Group, acquired by Hitec Products after the recent bankruptcy. Active Service provides hoses and couplings for fluid transfer, power and control solutions to the oil and gas industry. The company has offices in Bergen and Stavanger, and collaborates with a number of international suppliers. Active Service has over time built a solid market position and has a very strong customer portfolio, which will be taken well care of within the Flux Group. Flux will have the objective to further develop and grow Flux Active Service to become a cost effective, service and quality focused supplier to the oil & gas industry.

Flux Group has its head office in Stavanger and has a presence in Norway, Italy and South Korea.

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