{"id":642860,"date":"2013-02-18T04:58:00","date_gmt":"2013-02-18T09:58:00","guid":{"rendered":"http:\/\/www.pehub.com\/?p=186930"},"modified":"2013-02-18T04:58:00","modified_gmt":"2013-02-18T09:58:00","slug":"nbgi-private-equity-backs-cosalt-offshore","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/642860","title":{"rendered":"NBGI Private Equity Backs Cosalt Offshore"},"content":{"rendered":"

NBGI Private Equity<\/strong>, an investor in Aberdeen-based ATR Group<\/strong>, has acquired the Aberdeen and Norway operations of Cosalt Offshore<\/strong>. This will bring together Cosalt\u2019s expertise in offshore lifting, combined with its comprehensive offshore inspection, testing and safety service with ATR\u2019s global equipment rental service offering to the offshore maintenance sector. NBGI Private Equity launched in 2000 with a particular focus on investments in established businesses in the UK and Ireland. <\/p>\n

PRESS RELEASE<\/strong><\/p>\n

NBGI Private Equity, investor in Aberdeen-based ATR Group, has acquired the Aberdeen and Norway operations of Cosalt Offshore.
\nThis will bring together Cosalt\u2019s technical leadership in offshore lifting, combined with its comprehensive offshore inspection, testing and safety service with ATR\u2019s highly complementary global equipment rental service offering to the offshore maintenance sector.
\nThe deal will stabilise the Cosalt business, which has been through a difficult period in recent years, safeguard jobs and provide funding to capitalise on international growth opportunities.
\nATR chief executive Keith Moorhouse will lead the enlarged group. He said: \u201cThis deal will be welcomed by Cosalt\u2019s staff, customers and suppliers as an end to a period of uncertainty. Cosalt has an excellent technical and operational reputation and is an integral part of the supply chain of many of the energy sector\u2019s leading oil service companies and operators. Cosalt and ATR will be pooling their significant resources and technical expertise to deliver a broad, integrated service offering to the oil and gas industry.\u201d
\n\u201cThe deal will bolster ATR\u2019s growth by opening up the Norwegian sector and improving its operational capacity through access to Cosalt\u2019s skilled engineers, technicians and inspectors and its substantial equipment hire fleet.\u201d
\nTogether ATR and Cosalt will employ almost 400 people with a turnover of \u00a355m and will seek to consolidate and grow the two businesses to over \u00a3100m turnover organically and by acquisition.
\nA leading supplier in the rental of specialised tools and equipment for the offshore oil and gas industry maintenance sector, ATR has flourished since the investment by NBGI in early 2012, expanding its client base, rental fleet and global footprint. Its strategic move into subsea equipment rental and services was accelerated by the acquisition of UES last year.
\nCosalt Offshore has been part of Grimsby-based Cosalt PLC. The company provides a wide range of offshore and maritime safety equipment, lifting and rigging gear, wire rope, related tools and safety at height products, lifeboats and davit systems, alongside offshore inspection and compliance services. Cosalt has long-standing relationships with a portfolio of blue chip clients.
\nLawrence Dean, Investment Director of NBGI, added: \u201cATR and Cosalt will be working together to deliver a leading service to their customers. The high regard in which Cosalt is held in the offshore lifting sector is testament to its employees, who have continued to perform at the highest technical and operational levels. ATR management has been very supportive of this acquisition and Keith Moorhouse and the ATR and Cosalt teams are committed to building a global business.\u201d
\nAdvisers on the transaction included Dundas & Wilson, Johnston Carmichael and PwC. The NBGI team comprised Lawrence Dean, Pablo Villanueva and Rupert Brown.<\/p>\n

For further information please contact:
\nNBGI Private Equity
\nLawrence Dean \t\t\t \t020 7661 5678
\nEquus Group
\nSam Barton \/ James Culverhouse\t020 7223 1100
\n\t\t\t\t\tjames.culverhouse@equusgroup.co.uk
\nNotes to Editors:
\nNBGI Private Equity launched in 2000 with a particular focus on investments in established businesses in the UK and Ireland.<\/p>\n

NBGI typically invests in businesses between \u00a315m and \u00a350m in value. It invests in established businesses alongside strong management teams, supporting their business development plans and providing additional funding where needed for both organic growth and acquisitions. NBGI invests across a range of sectors, deploying its capital in a variety of investment structures including management buy-outs, management buy-ins, growth capital and turnarounds.<\/p>\n

In total NBGI now manages approximately \u20ac900million across a number of funds in the UK and across Europe. During 2012, NBGI completed 5 new investments from its UK Fund.<\/p>\n

The NBGI investment team is deliberately top heavy and most have managerial experience in industry prior to their extensive experience in private equity. Their approach is commercial, focusing on the key business issues to ensure a rapid response to investment opportunities and an efficient process through to completion. The UK Fund\u2019s Investment Committee comprises its four executive directors, allowing it to deliver promptly on key decisions. \t<\/p>\n

NBGI Private Equity Limited is authorised and regulated by the Financial Services Authority.<\/p>\n

ATR Group (www.atrgroup.co.uk) is a leader in the delivery of equipment services for the offshore oil and gas industry maintenance sector, operating throughout the North Sea and UKCS, the Caspian region and the global energy market.<\/p>\n

The Aberdeen-headquartered firm secured over \u00a320 million from NBGI Private Equity and the Clydesdale Bank, in March 2012 to pursue its\u2019 expansion plan.<\/p>\n

Comprising ATR Equipment Solutions, Power Solutions and Subsea divisions, the company holds certification accreditation from global standards body DNV for lifting operations activities.<\/p>\n

ATR’s Equipment Solutions division delivers specialist electrical equipment, heavy lifting machinery and consumables including cable manufacturing; Power Solutions focuses on all aspects of to-site delivery including generators, electrical cabling and rigging lofts; with Subsea focussed on marine and subsea project support equipment and project management to the survey, ROV and diving markets.<\/p>\n

The post NBGI Private Equity Backs Cosalt Offshore<\/a> appeared first on peHUB<\/a>.<\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

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NBGI Private Equity, an investor in Aberdeen-based ATR Group, has acquired the Aberdeen and Norway operations of Cosalt Offshore. This will bring together Cosalt\u2019s expertise in offshore lifting, combined with its comprehensive offshore inspection, testing and safety service with ATR\u2019s global equipment rental service offering to the offshore maintenance sector. NBGI Private Equity launched in […]<\/p>\n","protected":false},"author":7476,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-642860","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/642860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7476"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=642860"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/642860\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=642860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=642860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=642860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}