In 2006 Inflexion led the £22m buyout of moorings equipment supplier Viking Moorings, supporting an ambitious capex programme to accelerate growth at home and abroad. In 2009 HSBC Private Equity bought the business, generating a 10.2x return on investment.
January 2006 - July 2009
Viking, formerly Balmoral Marine, was founded in 1985 and went on to become 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 Inflexion investment
We invested £9.0m in the £22m buyout, with management investing alongside.
The Inflexion difference
To enable Viking Moorings to expand, we first helped to strengthen the management team, ensuring the right skills were in place to lead the company. We also encouraged and supported an ambitious £50m three-year capital expenditure programme.
Inflexion oversaw the development of design and advisory packages and provided guidance to support the company’s overseas expansion, helping the firm to build a strong global presence capable of serving the growing markets in Asia, Australia and China Pacific regions. Headcount doubled to more than 100 during our partnership.
Our active partnership with the team at Viking Moorings transformed the business, enabling us to realise a 10.2x return on investment through our sale of the company.