It will use its newly enhanced cash reserves to help advance expansion plans.

Inflexion, which backs both buyout and development capital deals across a range of UK sectors, has invested a total of £9 million for a majority stake in the business, with debt facilities coming from Royal Bank of Scotland.

Selling principally to the Norwegian and UK markets, Viking has benefited from the recent surge in North Sea offshore activity and hopes, according to executive chairman Steve Curl, to utilise the additional financial resources afforded by the transaction, to better address this opportunity.

‘Viking Moorings is the market leader in a strong industry,’ adds Inflexion’s Tim Smallbone. ‘With its track record of developing new products and technologies and customer satisfaction, we are confident the company will continue to grow.’ Both Smallbone and his colleague Catherine Richards have been appointed to Viking’s board.