News ·
Rieber & Søn Sells TCO to Innovex
As of July 1, TCO became part of Innovex, a leading international technology company in the energy sector. The transaction was settled in cash and stock.
Rieber & Søn first invested in TCO in 2001. Over more than two decades, we have gradually increased both our ownership stake and our involvement in the company, with the clear goal of contributing to long-term development and value creation. Together with management and the employees, we have helped develop TCO from a Norwegian technology company into an international firm with a strong market position and customers around the world.
As a long-term owner, our ambition has been to contribute capital, expertise, and active ownership. At the same time, we have always adhered to one overarching principle: What is best for the company’s future development must take precedence over our desire to remain an owner.
We believe Innovex is the right industrial partner for TCO in its next phase of growth. With a strong international market position, complementary technology, and a global commercial presence, Innovex will provide TCO with access to new markets, broader distribution, and increased capacity to develop new solutions. Together, the companies will be able to realize opportunities that would have been more difficult to achieve individually.
We are proud of what TCO has achieved over the years, and we are grateful to the management, employees, customers, and partners who have contributed to the company’s growth. We wish TCO and Innovex the best of luck in this next chapter and look forward to following their continued progress.
Attached is a link to Innovex's press release regarding the transaction: https://investors.innovex-inc.com/news/news-details/2026/Innovex-Completes-Purchase-of-TCO-Group-AS/default.aspx