Singapore move: for 3i
3i joins forces with Franklin
Private equity player 3i has invested in Singapore-based services player Franklin Offshore, it said today.
Mezzanine capital investor Intermediate Capital Group (ICG) is providing mezzanine financing and investing alongside 3i.
Franklin boss Angie Tang said: “3i is uniquely placed to partner with us given the combination of its energy sector experience and local presence in Singapore.
"We are delighted to be partnering with 3i and look forward to achieving our ambition of becoming a leading service provider to contractors and oil companies through continued geographic and product growth.”
3i will work with the current management team to identify and introduce further management expertise to the business and to support Franklin in becoming a regional champion and service provider.