Aberdeen-based Viking Moorings, which serves the offshore oil and gas industry, has been acquired by HSBC from Inflexion Private Equity.
Aberdeen-based Viking Moorings, which serves the offshore oil and gas industry, has been acquired by HSBC Private Equity from Inflexion Private Equity.
Inflexion backed the £22 million buy-out of Viking in 2006. Financial details of this month’s transaction have not been disclosed.
Victoria Zivkovic, an associate at law firm Cobbetts which advised Viking’s management team on the deal, says the company is a clear market leader which has shown strong growth in a highly competitive sector.
Viking Moorings designs and installs mooring systems for drilling rigs and single hull vessels. It currently operates in the North Sea and has participated in projects in West Africa and the Asia Pacific.