Carlyle invests $ 41 mn in Great Offshore
US-based private equity firm Carlyle on Friday said it has invested $ 41 million (about Rs 1,644 crore) in Great Offshore, a city-based service provider engaged in the oil and gas sector.
By PTI |
MUMBAI: US-based private equity firm Carlyle on Friday said it has invested $ 41 million (about Rs 1,644 crore) in Great Offshore, a city-based service provider engaged in the oil and gas sector.
The investment has come through Carlyle Asia Growth Capital Partners, a $ 680 million fund.
"Great Offshore is well poised for a tremendous growth in size and profitability, enabled by a strong management team, a relatively under leveraged balance sheet and a favourable macro environment," Carlyle India Managing Director Shankar Narayanan said in a statement here.
Great Offshore provides services for oil and gas players to support their exploration and production activities. It has a fleet of 40 vessels, including drilling rigs, platform supply vessels, multi-support vessels, anchor handling tugs and harbour tugs.
Carlyle Asia Growth Fund invests in "high-growth companies" in India, China, Japan and South Korea. It works with ONGC, Reliance, Cairn, British Gas, Shell, British Petroleum, Exxon Mobil and Saudi Aramco in India and the Gulf.
The investment has come through Carlyle Asia Growth Capital Partners, a $ 680 million fund.
"Great Offshore is well poised for a tremendous growth in size and profitability, enabled by a strong management team, a relatively under leveraged balance sheet and a favourable macro environment," Carlyle India Managing Director Shankar Narayanan said in a statement here.
Great Offshore provides services for oil and gas players to support their exploration and production activities. It has a fleet of 40 vessels, including drilling rigs, platform supply vessels, multi-support vessels, anchor handling tugs and harbour tugs.
Carlyle Asia Growth Fund invests in "high-growth companies" in India, China, Japan and South Korea. It works with ONGC, Reliance, Cairn, British Gas, Shell, British Petroleum, Exxon Mobil and Saudi Aramco in India and the Gulf.
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