History

Who Are We?

Eagle AS is a private investment company with business within Industry, Shipping and Property. The corporation was established in 1982 and has since gained a broad portfolio of industrial companies and financial investments. Eagle AS is the founder of the Teknotherm Group and Therma Industry and has of today owner interest in 24 companies in 11 different countries and 25 locations with a combined revenue of approximately 500 MNOK. Eagle AS has grown exponentially the last few years through both acquisitions and organic growth nationally and internationally. Eagle has solid equity and carries out an active and long-term ownership in its priority areas. Today Eagle AS is run by Pål Myklebust – CEO, Roy Moberg – COO and Kent Moberg – CFO.

The Beginning

Eagle AS history dates back to 1926 when Lehmkuhl Industry was established in Oslo. Early in the 70’s Lehmkuhl Industrier established offices in Halden, and in 1979 Einar Myklebust was hired as CEO and offered the opportunity to buy all the shares in the company. Einar took advantage of this opportunity and at the same time changed the name to Teknotherm AS. He ran the company until the late 90’s. After some trials and errors Eagle landed on Mr. Roy Moberg as CEO of Teknotherm in 2001.

Rebranding

In 2003 Teknotherm was renamed to Eagle AS and converted to a parent company. Teknotherm AS continues as a new operational company and Eagle AS also develops investment portfolio within shipping and property. In 2006 Einar Myklebust steps down as CEO of Eagle AS passing on the mantle to his son – Pål Myklebust. A year later the industrial part of Teknotherm, Teknotherm Industry AS, demerged form the company and the remaining part is sold to Iceberg AS. Eagle has at that time doubled it’s revenues from the establishment in 2003 until the sale of Teknotherm in 2007. In the coming years Eagle AS focuses on the development of Teknotherm Industri AS, from 2009 called Therma Industri AS. Therma Industri is now the marked leader in Norway with focus on industrial energy and refrigeration systems.

Reacquisition

In 2011 Teknotherm AS goes bankrupt and Eagle buys the bankruptcy estate. Teknotherm moves back to Eagle’s premises in Halden and the rebuilding continues with acquisitions of foreign subsidiaries. Eagle AS also gets a new acquisition in 2011, the local firm Grimstål Produkter AS. Grimstål is focusing on mechanical production and moves into the same building as Teknotherm.
From 2014 Eagle AS chooses to strategic invest in environmental and energy as drivers. With the acquisition of majority of the shares in RENA Technology and Quality Group, along with the establishment of Teknotherm Engineering it signals the start of this strategic choice. Within the offshore segment the focus is now directed from cooling systems to waste water treatment and drilling waste management.
RENA Technology and Quality Group is later in 2017 merged into one company – Rena Quality Group.

Teknotherm Sold

After a successful turn-around Teknotherm AS is sold to the Dutch company Heinen & Hopman. At first 60% of the shares are sold with an obligation to buy the remaining 40% in 2018. The remaining 40% is sold 7th of June 2018. Teknotherm Engineering is also renamed to Eagle Technology and a subsidiary, Eagle Technology Bosnia, is established in Zepce, Bosnia-Hercegovina with Ivo Klaric as CEO. Eagle Technology focus on sales, construction and production of advanced mechanical solutions to both sister companies within the Eagle Group and to the external marked, primary in Scandinavia, Germany, Austria and Balkan. The company has both own developed products and production for hire.

Expansion

In the last two years Therma Industry has expanded with a subsidiary in Stavanger, Therma Industri Stavanger and the acquisition of 51 % of the shares in Utstyr & Kjøleservice in Bergen. Green Carbon has been established with subsidiary in Stettin, Poland. Green Carbon has exclusive right to a unique pattern technology linked with recirculation of plastic waste which through induction technology transforms a form of carbon end product with high energy levels. Green Carbon delivers complete plants to factories which handles the whole value chain from waste disposal to finished carbon product. Eagle AS is also main share holder in Alven Ltd., a company registered on Cyprus. Alven is a tech company which offers water treatment of slop and produced water, along with destruction of cuttings in a mobile maritime solution. The technology is already completed conceptual and it will revolutionize the market compared to the land-based solutions which exist today.