Viking boards Inflexion

Viking Moorings – the designer of mooring systems to the North Sea offshore oil and gas industry – has completed a £22 million management buyout with the backing of Inflexion Private Equity.

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.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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