Sector Healthcare and education
Location Aberdeen, UK
Exit date July 2009
Investment status Realised
Exit details 10.7x return

Viking Moorings

The company

When Inflexion backed the company in 2006, Viking was a market leader in the provision of ‘mission critical’ mooring solutions to the oil and gas sector for key assets such as semi-submersible drilling rigs, drill ships and floating accommodation platforms. The services that Viking provided included initial design and engineering assessments, computer modelling and simulation, procurement of equipment, mobilisation, equipment rental and demobilisation, through to spooling and equipment testing.

Growth strategy

Viking Moorings was looking to extend its international reach, but needed capital investment in its infrastructure to create secure foundations for future growth.

The Inflexion difference

To enable Viking Moorings to expand, we first helped to strengthen the management team, making sure the right skills were in place to lead the company. We also encouraged and supported an aggressive capital expenditure programme, backing the management team to spend £50 million on CAPEX over a three-year period.

Adding further value to the core equipment supply business, Inflexion oversaw the development of design and advisory packages and provided guidance to support the company’s overseas expansion. We helped Viking Moorings to build a strong global presence, putting the company in a prime position to service the growing markets in Asia, Australia and China Pacific regions.

Our active partnership with the team at Viking Moorings transformed the business enabling us to realize a 10.7x return on investment through our sale of the company to HSBC Private Equity.