13th May 2019 13:25
LONDON (Alliance News) - Oakley Capital Investments Ltd said Monday it has acquired majority stakes in two maritime e-learning providers from Norwegian private equity firm Herkules Private Equity Fund IV and US satellite company KVH Industries.
The private equity investment company contributed GBP25 million, through its Oakley Capital IV fund to buy the stakes in SG MidCo AS, also known as Seagull, and Videotel Marine Asia Ltd and Super Dragon Ltd, collectively known as Videotel.
According to Oakley, every year the two firms provide over 10,000 ships and installations with compliance, risk and safety training. In 2018, the two companies, together, generated USD50 million revenue.
"The digital transformation taking place in the shipping industry, as well as the increasingly complex regulatory framework, offers a significant opportunity for e-Learning providers. The management teams of Seagull and Videotel believe that this opportunity can be grasped most effectively by working together as a combined group," the company said.
Oakley Managing Partner Peter Dubens added: "We are delighted to be partnering with the management teams of Seagull and Videotel, two companies we have admired for many years. Both teams are exactly the type of highly-ambitious professionals we continually seek to back. We look forward to supporting them in their plans to invest in new content and technology solutions based on the wealth of internal expertise which can now be shared across the group."
Oakley said there will be no immediate operational changes in either company. Current Founder & Chair of Seagull Oscar Johansen will become President of the combined group.
Shares in Oakley Capital were up 0.2% Monday at 208.97 pence each.
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