Master Marine SA
Sector/industry
Offshore energy service company
Master Marine is an offshore energy service company,
specializing in accommodation, transportation and installation of
heavy structures for the oil, gas and offshore wind power
industries. Currently the company has two Service Jack vessels
under construction at the Drydocks World yard in Indonesia. The
first vessel is expected to be delivered in the first half of 2010
and the second vessel in the second half of 2010. The company has
already signed two contracts with premier customers for the two
vessels at a total contract value of EUR 340 million. Service Jack
1 will initially be used as an accommodation unit for
ConocoPhillips at the Ekofisk field in the North Sea. Service Jack
2 will initially be used to install wind turbines and substation
modules for Scira Offshore Energy (StatoilHydro and Statkraft) at
the Sheringham Shoal Offshore Wind Farm.
Nordic Capital Fund VII acquired Master Marine through a
recapitalization offer that was presented in September 2009 and
completed in October 2009.
Management:
- Christian Mowinckel, CFO and acting CEO
Board of Directors:
- Tom Vidar Rygh (Chairman)
- Kjell Martin Grimeland
- Inge K Hanssen
- Peter Hansson
- Jan Håkon Pettersen
Key Information:
Revenues 2010*:
EUR 10 million
Employees:
40
Ownership:
Nordic Capital Fund VII, controlling shareholding
Date of investment:
2009
Head office:
Oslo, Norway
* 2010 sales for companies still in portfolio; sales at exit for divested companies
