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Energy Ventures earmarks $200 million for investment in North Sea businesses

Wednesday, November 9, 2016

Independent private equity firm Energy Ventures has earmarked $200 million to help boost North Sea businesses during challenging times for the oil and gas industry.

The organisation is looking to invest in companies which need access to finance to stabilise their company or to help with continued growth.

Tomas Hvamb, Energy Ventures' Aberdeen-based investment director, said: 'Energy Ventures is one of the few oil and gas private equity funds investing at this time. In the past 20 months we have made three platform investments in the North Sea and a total of 11 investments including add-ons in the same period.

'The additional funding of $200 million which we have set aside is testament to the commitment we have to the area. We believe in the North Sea and the opportunities it continues to offer for domestic and international growth.

'We look to partner with talented management teams in service and technology companies with high growth potential and seek to invest between $10m-$40m in each company.

'Energy Ventures will invest in proven companies where we can see where our capital can provide a strong capital base to support the company and management in their next growth phase. At a time when activity levels in the industry have been down, many companies are under pressure from the banks to de-lever their balance sheet and we can assist in this.

'By providing additional working capital and by working in partnership with them, we can help them move forward positively, while investing in their future.'

Energy Ventures is an independent private equity firm actively seeking investment in companies that deliver a marketable, proprietary product or service with potential in the upstream sector.

From initial investment to exit, the firm partners with portfolio companies to ensure the effective use of capital and expertise.

Greg Herrera, one of the firm's partners, said: 'Energy Ventures has a proven track record of investing in high growth companies, not just in the North Sea, but across the globe.

'Our model is based on supporting growth of differentiated service and technology companies that provide solutions to long-term oilfield challenges, which we view as the key to improving declining production levels and boosting further re-investment.

'The additional funding that we are currently making available is there to help businesses in the North Sea who may be finding trading conditions particularly challenging just now due to the low oil price. We are keen to partner with them to help them through this period and beyond.'

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