£6.5m loan to acquire target
Bridge & York Capital Partners arranged acquisition funding to EV Private Equity backed Motive Offshore Group, specialists in the manufacture, rental and servicing of marine equipment to the onshore and offshore oil and gas and marine industries, to support the purchase of Flowline Specialists Limited.
Flowline Specialists, which was founded in 2001 with headquarters, manufacturing and storage facilities in Aberdeenshire, specialises in modular equipment used for the handling and deployment of subsea flexible pipes, cables and umbilical’s across the energy industry.
Motive and Flowline have a long-standing working relationship, having operated as partners on a number of projects. This acquisition diversifies Motive into offshore wind, power and utilities and enhance its capabilities in the North Sea and Middle East.
