US private investment firm Merced Capital has acquired Dubai-based offshore services provider Telford Offshore following a competitive sales process launched earlier this year.
As part of the deal, Merced Capital, founded in 1988 by the team responsible for the development of Cargill’s Financial Markets Department, has provided new capital to Telford, reducing its net debt position to zero post-transaction.
Telford Offshore’s fleet comprises five vessels able to provide accommodation services, subsea and topside heavy lift services, lay rigid and flexible pipe and carry out subsea construction.
Moving forward, the company will be led by Robert Duncan, who succeeded Fraser Moore as chief executive officer. Duncan most recently served as founder and CEO of Capital Strategies International and prior to that, he was CEO of offshore energy and marine services company Seafox International.
