MORE MUSCLE MEANS MORE OPPORTUNITIES
ATP’s investment fund, Via Venture Partners, has invested in Q-star Energy now merged with VB Enterprise and Apro Wind in the company All NRG. Thus, it is now a significant player when talking service to the offshore industry.
From its start in 1993 and till now Q-star Energy has been involved in quite a lump of the market for services to the offshore industry balancing its turn-over equally between the Danish and the Norwegian markets. During the busy summer period of 2013 that meant a staff of some 900, and this number is now expected to grow even more as the investment fund, Via Venture Partners, owned by the pension company ATP, has decided to invest in Q-star Energy now having joined the company All NRG together with VB Enterprise and Apro Wind
– a move which according to co-owner and managing director Henrik Hansen will result in an even stronger position. “We will be provided with extra capital in the market for serving the oil and gas industry where we are already strong, but this means new opportunities to us. Perhaps we shall start looking more closely at the markets in the Netherlands and the UK, and we may be more active in the field of renovation. Naturally, they are the segments we are considering just now, and when it comes to wind power we may grow, too, thanks to our partners, just like they may use us to get stronger in oil and gas. As an additional advantage we will get a new board of directors perhaps looking at things in a kind of a different way in order to contribute to more development,” explains Henrik Hansen, who has joined the new merger that may lift Q-star Energy up into a higher sphere.
“To some extent it is a question of letting go one’s child in order for it to be able to fly even higher, and this cooperation provides us with some really good perspectives. Here, investments derive from a company known to work in a decent way, and even if we had other opportunities, one could say that it was important to us that the child was sent to the right school. That is the case here, and it has been important to us, too, that all our employees can see themselves as a part of this construction. They were the people bought by the investors, and they were the ones the investors were interested in.”
Considering this last statement it is obvious that in the near future no radical changes are to be expected, but in time synergies are likely to materialize.
Q-star Energy will stick to its present business segments – and venture into new ones, too.
“Right now we look at a calm and controlled development, but naturally we shall grow bigger and stronger in the future. We shall expand in wind as well as oil and gas, and it will be the responsibility of us – the board – to plan the strategies. Naturally, areas like IT and Purchasing can be optimized, but all has to take place in full consensus with the existing, well functioning companies.”
However, Henrik Hansen is focusing on a specific business activity. “In the offshore sector we would like to get involved in more renovation projects, but, naturally, maintenance will go on to be significant to us. There is still a lot of worn-down equipment in the North Sea, so in a way we are already in the renovation business, but we would like to be involved in even more projects. We have a balloon of experience which could be inflated a bit more, and I am a believer in developing one’s key
business instead of starting up a new activity where one does not have the same experience.”
Earlier Henrik Hansen has successfully applied that concept. “4-5 years ago we ventured into the wind power industry as we could see that our expertise gave us some good opportunities here. The bricks were, so to speak, the same as the ones we had used in oil and gas. The entrance to that market has provided us with a decent turn-over, a turn-over that is growing rapidly as the North Seas is more or less being covered in wind turbines. That calls for a tremendous amount of maintenance, and in principle it is the same to us if we are to grease a rotor or a valve.”
A LOGISTIC PUZZLE
“Under all circumstances the merger could very well lead to a boost of the number of staff, and that calls for an
Henrik Hansen is looking forward to developing Q-star Energy within the new merger. Henrik Hansen is looking forward to developing Q-star Energy within the new merger. even more complicated puzzle every second week when it is time for crew chance. We change almost all our crews every fortnight, so we have our own travel office handling this challenge. We have calculated that every day of the year we have 16 employees sitting in a helicopter in the Danish sector. In the Norwegian sector we have 12 of our staff, and they have been flown to Norway before boarding their helicopter. It is quite a puzzle to match all these arrangements – an enormous logistic challenge which will not turn easier now. The same goes for recruitment and training.”
“Our Resource Department is using a lot of efforts and money to hire personnel of the best possible quality. If we relax in this respect our company will meet a sure
death. That is why we have some 5,000 possible candidates on file. They have all been screened and thereby ready for meeting the new challenges lying ahead,” concludes Henrik Hansen from Q-star Energy, who obviously has the manpower needed for the new jobs created by the recent merger of companies.