10/07/2025
PRESS RELEASE; MA Holding II AS acquires UPTIME – back on local hands
MA Holding II AS has today entered into an agreement with Norvestor to acquire their shares in Uptime International Holding AS, which in turn owns 100% of the shares in Uptime International AS ("UPTIME"). UPTIME then returns to local owners, as MA Holding II AS is controlled by Jan Johannesen and Arild Frøkedal, who are also owners of Marine Aluminium AS.
The acquisition marks an important milestone and underlines the owners' long-term commitment to further developing Norwegian-based technology and expertise in offshore and marine solutions.
UPTIME is a leading supplier of "Walk to Work" (W2W) gangway solutions for the offshore wind and oil and gas markets, has about 100 employees and operates from Husøy at Karmøy.
UPTIME had a turnover of 492MNOK in 2024.
Jan Johannesen will step into the role as CEO, while Per Bjørn Habbestad will take over the position of Chairman of the board.
In connection with the acquisition, UPTIME has been secured a significant injection of new equity and UPTIME's balance sheet is thus significantly strengthened.
"We will also carry out an efficiency program with the aim of exploiting synergies with Marine Aluminium and significantly strengthening UPTIME's competitiveness," says newly appointed CEO, Jan Johannesen