Funds advised by Triton have entered into an agreement to acquire Cubility AS, a Norwegian oil services company, from Energy Ventures for an undisclosed sum.
Cubility developed MudCube, a solids control and waste management system for drilling operations. MudCube is designed to provide cost savings for the oil industry through reduced mud, waste, and chemicals consumption and increased automation, as well as significant health, safety, and environment improvements.
The completion of the share purchase is expected to take place mid-April.
Alpha Corporate Finance has acted as financial advisor to Cubility and its shareholders in the transaction. Triton has been advised by Advokatfirmaet Selmer and EY.