GROWTH capital investor Lime Rock Partners believes the oil and gas sector in Europe has a secure future and it will continue to look for growth and technology investments.
Currently, the firm has more than half of its investments in its £900million fund committed to oil field service and technology deals.
Lime Rock said it intended to remain on the lookout for the innovative entrepreneurs and businesses that can benefit from the growth capital it can provide.
The managing director of Lime Rock in Aberdeen, Trevor Burgess, said the North Sea was an incubator for new companies bringing high-value services and new business models to the oil and gas sector.
Mr Burgess was greatly encouraged by what he saw at the recent Offshore Europe show in Aberdeen, which attracted tens of thousands of oil and gas professionals from around the world.
He added: “We take a long-term view and work with our companies to help them implement the best roadmap for growth, typically over a period of five to eight years. Lime Rock seeks to invest across exploration and production (E&P), energy service and oil service technology companies. We have deep pockets for good management teams with a real value proposition to bring to the market. The growth equity that we provide is directly related to job creation.”
Lime Rock has invested in more than 20 companies in the UK, Norway and mainland Europe.
Mr Burgess said: “The entrepreneurial energy and technological leadership of the oil industry in Europe remain vigorous. We will continue to invest with local entrepreneurs and to help their companies grow globally with assistance from our three other offices in the US and Dubai. We will soon be opening an office in London to focus on global E&P opportunities.”
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