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GMMOS Group, a marine and engineering group jointly owned by Abraaj Capital and Waha Capital, has acquired the offshore marine support services company Minnow Marine Projects Limited (MMPL).
MMPL has a fleet of offshore support vessels comprising a number of platform supply vessels and multi-role utility vessels, servicing the offshore oil and gas industry. The value of the deal was not disclosed, but the vessels alone, upon completion, are valued in excess of $200m.
“MMPL was formed to service the growing needs of the offshore oil and gas industry, taking advantage of the directors’ many years of industry knowledge and experience,” Robin Reeves, MMPL founder and CEO, said.
The owners of MMPL chose to merge with GMMOS Group because we believe that the GMMOS Group brings unique capabilities that will accelerate MMPL’s growth and help achieve its full potential,” he added.
The law firm Clyde and Co LLP advised on the sale.
