Norwegian private equity firm Norvestor has acquired a majority stake in software logistics business Wellit.
Wellit was founded by Jan Inge Pedersen and Fredrik Larsen in Norway in 2011 and now provides logistics solutions for more than 30 customers in the global oil and gas industry.
Customers include all the operators on the Norwegian Continental Shelf and well as international oil and service companies.
Wellit’s cloud-based software, WELS, enables businesses in the oil and gas value chain to eliminate costs and reduce lead times through optimised planning and more effective communication.
Jan Inge Pedersen, CEO of Wellit, said: “Our mid to long term goal is to become the chosen logistics software provider for all companies operating in the global oil and gas industry. With Norvestor on board, we now have both an experienced partner and the financial muscles to support us over the coming years.”
Tor Erling Gunnerød, Partner at Norvestor Equity, added: “Coming from a long career within oil and gas, I see great potential in Wellit to change industry dynamics, way of working and save operator and supplier costs.”
Norvestor will hold a 60% stake in Wellit, with founders and management holding the remaining shares.