Company description:
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.
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