UMG secures Blue Water Energy investment
Dubai, July 16, 2014
Unique Maritime Group (UMG), a leading integrated turnkey subsea and offshore solutions provider, has secured a pivotal strategic equity investment from Blue Water Energy, a London-based middle market energy private equity firm.
The new partnership will allow UMG to accelerate its growth plans through additions to its rental fleet, besides through further acquisitions, to expand the product and service offering and geographic distribution.
Founded in 1993, UMG is a specialist in the provision of services, and the sale and rental of equipment for the marine, diving, hydrographic, oceanographic, oil and gas, inspection and NDT market sectors. It is headquartered in the Hamriyah Free Zone.
The group has an established manufacturing capability for the delivery of customised engineering projects worldwide.
Blue Water energy primarily targets private equity investments in the upstream and midstream/downstream energy supply chain, while partnering with management teams and utilising a network of seasoned investment and operating professionals that drive value throughout all aspects of the investment process.
UMG’s has a line-up of products and services for the marine, diving, survey, NDT and inspection and oil and gas sectors.
Harry Gandhi, CEO, UMG, said: “Blue Water Energy is a strong partner for this important growth phase of our business. From the outset, the team at Blue Water Energy has understood our strategy and vision and we are confident that with their industry experience and network, they can strongly support UMG’s expansion plans.”
Tom Sikorski, partner, Blue Water Energy, added: “The partnership with UMG continues our investment strategy of working with founder owners building international energy companies. Harry and his team have a very successful track record to date and we see significant growth opportunities – both organically and through acquisitions - for UMG across its international network.” - TradeArabia News Service