Field kickstarts 2024 under new ownership

221223 - News, Operational Updates

Field will kickstart the new year under new ownership after being acquired by existing shareholders. DSD and management will acquire Field Group's traditional business, while former Field Board Chair Arild Austigard and partners will acquire Field Group's drone activity. The acquisitions secure a full refinancing of the business in a new company structure.

Existing shareholder, Stavanger-based investment company DSD AS, and a group of senior employees will acquire the traditional business of Field Group, including Field Aviation, Field Finland, Field Estonia, Field Data Spain, Field Sweden, and Field Group Sweden.

DSD will become the majority owner with approximately 83 percent of this newly formed company, while the management group will own approximately 17 percent. The Field Group brand will transfer to the new company.

Fields UAV division is being acquired by a group of passionate investors with senior competency, including the family office of former chair of the board Arild Austigard. The new owners are committed to continue the development of a global leading company within unmanned technology and inspection services and will operate under a new entity and a new brand. This implies that the current business in Field Group will be divided and continued after closing in new entities, separate from today's corporate structure in the Field Group. 

"After a challenging economic period, this is a very good agreement, and I am grateful that we can announce to our more than 300 employees shortly before Christmas that we now have a solid and future oriented ownership set up for the company," says Field Board Chair Tore Gjedebo.

"This also means that our skilled and experienced employees can continue to deliver the same high-quality services that customers demand, and we get the necessary continuity and stability to run the business," Tore Gjedebo continues.

Family-owned DSD AS has been a co-owner of Field Group since the end of 2021 and focuses on ownership in technological and sustainable companies. Active ownership and value development are cornerstones of the company's investment strategy.

"On behalf of DSD, I am glad we've found a solution that ensures continued business for Field Group and its employees. DSD firmly believes that the most valuable asset of Field is the dedicated team of employees. Together with a strong management team and a more focused product portfolio, we are confident in the success of Field as a company for the future," says investment director at DSD Kjartan Melberg.

Former Field Chair Arild Austigard is pleased to take ownership of Field's drone activities.

"I am pleased that we have found a solution for Field Group where we can take over the ownership of the drone activities in the company. The use of drones is part of the future solution that both ensures efficient solutions and the environmental challenges we face, and the employees in Field Group working in the drone business have what it takes to succeed in the future," says Arild Austigard.


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