Viking Moorings

About 

Viking Moorings transformed from being a European focused North Sea operator to a global moorings equipment supplier following Inflexion’s buyout, which saw headcount double and EBITDA grow 5x, generating a 10.2x return. 

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. 

Value acceleration 

To enable Viking to expand, we first helped to strengthen the management team, ensuring the right skills were in place to lead the company. We then supported an ambitious capex programme to accelerate growth at home and abroad, overseeing the development of design and advisory packages and helping Viking to build a strong global presence capable of serving the growing markets in Asia, Australia and China Pacific regions. 

During the stewardship, the higher margin Norwegian market became Viking’s major revenue driver, while the allure of the Asia Pacific market inspired the establishment of a Singapore office. 

Headcount doubled to more than 100 during our partnership before it was sold to HSBC Private Equity.