History

Shipping
Peder Smedvig established his first company in shipping in 1915. In 1935 Smedvig Tankrederi AS was established. During the Second World War they lost 4 of their 5 ships. Smedvig rebuilt their shipping activities after the war, and in 1971 Smedvig Supply Ships was established. Smedvig Tankships Ltd. was listed on the Oslo Stock Exchange on the 5th of July in 1993, and in 1995 Smedvig realized their value and withdrew from the shipping industry.

Canned Goods
During the first World War, the family invested in various industrial companies in the canned fish industry and were at the time Norway´s third largest producer. The company’s canned food production was spun off and taken over by another family branch in 1959.

Oil, gas and industry
The Smedvig family entered the offshore industry in 1965 through a company investing in exploration, onshore bases and supply vessels. They were a part of the oil exploration sector in the North Sea, Vallhall, in the 1970s, and from 1973 drilling rigs became part of the portfolio.
Smedvig extracted oil from USA and Spitsbergen until 1979. In 1987 the development of Scana Industries started, which was developed into an industrial corporation in the offshore, steel and marine areas.

Smedvig ASA was established in 1989 to handle the family’s offshore drilling operations. The company expanded through the purchase of Dyvi ASA and Rob Ray in Singapore. Smedvig ASA was listed on the Oslo Stock Exchange in 1990 and in New York in 1996. Smedvig realized their value in Scana Industries in 2005 and in Smedvig ASA, and withdrew from offshore drilling operations in 2006. Today Smedvig Family Office has several investments in the oil and gas industry.

Property
The Smedvig family invested in property in the late 1960s, and has demonstrated strong results in the Norwegian property market since then. Smedvig Eiendom AS is currently a long-term and active developer of high quality commercial and residential property. The company also invests in international property funds. Smedvig Eiendom AS has offices in Stavanger, Hamar and Lillehammer.

Venture and private equity
Smedvig Capital was established in London in 1996 to handle the company’s venture capital and private equity investments. The company offers capital to the world’s leading private equity funds, as well as capital for the start up and development of new businesses.

Financial investments
In October 2007 Smedvig Asset Allocation AS received a license to undertake active management and investment consulting from the Financial Supervisory Authority of Norway. The company manages the Smedvig family’s investments in accordance with mandates laid down by the company’s clients. Assets total approximately NOK 4 billion, and the main focus is on identifying and investing with the best external fund managers. The company is located in Stavanger.