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Norweigan’s eye £200m Viking
Scottish oil services company Viking Moorings is courting suitors after its’ price tag of some £180 million - £200 million, publicised last week, attracted interest.
Norwegian private equity group HitecVision has emerged as a favourite for the company that was bought by its senior management, backed by Inflexion Private Equity, for £22 million in 2006.
Rising oil prices pushed up the value of Viking, which has offices in the Norwegian city Stavanger, Aberdeen and Singapore, and was put up for sale earlier this month. The firm provides mooring systems to offshore oil and gas rigs, and has operated in the North Sea for some 25 years.
Founded 20 years ago, HitecVision is primarily a buy-out and growth-stage investor within the oil and gas sector in Europe and North America.
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