“Similar to Hilti, Oglaend System is well positioned in the market,” Matthias Gillner, Member of the Executive Board of the Hilti Group, said in a statement. “Since our corporate strategy is to create sustainable value through strengthening of the market position and differentiation, we believe these two companies are a great fit.”
Founded in 1977 and headquartered in Klepp, Norway, Oglaend System Group has subsidiaries in 14 countries around the world and is a leading manufacturer of cable management solutions and multidiscipline support systems for the offshore industry.
Oglaend System’s headquarters will remain in Klepp following the acquisition and operate as a combined entity together with Hilti’s offering for the offshore sector. Geir Austigard, CEO of Oglaend System, will remain in office and manage the combined global offshore business.
Both companies have agreed not to disclose the purchase price.