Dubai: OSV player Topaz Energy and Marine has announced a $75 million new equity investment in the business from Standard Chartered Private Equity (SCPE).
Under the terms of the investment, SCPE will inject $75m of equity in return for a 9.8% stake in the business. The funds will be deployed in support of Topaz’s long-term fleet expansion ambition in its core operational regions and strategic entry to key growth opportunities.
“Joining forces with a private equity powerhouse like SCPE will enable Topaz to truly accelerate the realization of our strategic plan,” commented René Kofod-Olsen, ceo of Topaz. “We have now enhanced the foundation from which we can deliver our ambition for further geographical diversification and growth through both organic expansion and acquisitions. SCPE is investing because of its firm belief in the Topaz story, the team and our strategy, and we look forward to working together in close partnership.” [20/08/14]