The transaction is expected to close in July. Arcapita and its co-investors acquired Roxar in February 2006 for a transaction value of approximately $216m.
Roxar provides technology solutions which allow energy companies worldwide to optimise production from oil and gas reservoirs.
The firm was Arcapita's first corporate acquisition in the Nordic region and the divestment is Arcapita's third liquidity event for investors in its European private equity portfolio since the start of 2007.
The transaction follows the recapitalisation of Vogica, the French manufacturer and retailer of kitchens and bathrooms in April 2007, and the recapitalisation of Paroc, the Finland-based manufacturer of stone wool insulation products last month.
"The divestment from Roxar after a 15-month investment holding period represents an excellent outcome for our investors. Roxar is the first exit from our European investment portfolio, and demonstrates our ability to source and manage high quality investment opportunities from Europe for the benefit of our investors.
To date, Arcapita has exited from 13 portfolio investments for a total transaction value in excess of $3 billion, generating attractive returns for our investors," said Arcapita chief executive Atif A Abdulmalik.
Roxar's management team has delivered solid growth over the last 15 months, which positioned the company as an attractive acquisition target for CorrOcean, a strategic buyer whose business is complementary to Roxar's," added Arcapita's European head of corporate investment Mounzer Nasr.
