Singapore: Kreuz Holdings Limited and SEA9 Pte. Ltd., a subsidiary of The Headland Private Equity Fund 6 L.P., a private equity fund advised by Headland Capital Partners Limited, have announced a management-led leveraged buyout of Kreuz Holdings Limited by way of a Scheme of Arrangement for S$446m.
Listed in Singapore, Kreuz is 57.5% owned by Swiber Holdings Limited, and is an integrated subsea solutions provider for the oil and gas industry.
Kurush Contractor, ceo of Kreuz, commented “We are pleased to receive the Scheme proposal from SEA9 and we look forward to working closely with Headland and SEA9 towards ensuring quality performance with accountability to our clients. The incoming delivery of a state-of-the-art Diving Support Vessel, will enhance Kreuz’s capabilities in shallow, deep and ultra deep offshore operations globally, and support Kreuz as it seeks to execute upon its growth initiatives”.