Private equity and venture capital firm 3i will invest an undisclosed amount in Singapore-based deepwater mooring expert Franklin Offshore, it was learned Friday.
For 3i, it’s second announced investment in an energy-sector company since Venture Production yesterday. It’s the Marshall Plan successor’s third energy-related investment in the Asia-Pacific region after E&P outfit Pearl Energy and Salamander Energy, an upstream oil and gas exploration and production company focused on South East Asia.
Salamander’s float as 2006 ended raised $200 million, giving the company a market capitalisation of $405 million.
Franklin makes and certifies rig equipment, including cable laid slings for the rig market and is “the largest and most significant offshore and marine-related service provider in Southeast Asia”.
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