Private equity giant KKR has bought a majority stake of the Aberdeen offshore container manufacturer OEG Offshore Group in a £100million deal.
The deal add firepower to OEG’s move into the Caspian region and comes on the back of the container group’ multi-million acquistion of rival Osca which solidified their expansion into the region.
The executive management are set to retain a significant holding in the company, currently operating from 24 main bases around the globe, OEG said in a statement.
“We have achieved significant growth in OEG to date but our teams have the appetite to accelerate our further development through both organic and acquisitive means,” said John Heiton, chief executive of OEG.
“We are delighted to co-invest with KKR to develop OEG into a leading global provider of field support equipment to the offshore energy industry.”
KKR has a track record of investing in growth companies servicing the global offshore energy sector, including investments in Acteon, RigNet, Avincis and Weststar.
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