New captain: Dockwise has been sold to equity group 3i
Dockwise gets new berth at 3i
Dutch group Heerema and Norway's Wilh Wilhelmsen have agreed to sell heavy-lifting transport company Dockwise Transport to private equity group 3i for more than $700 million.
"The sale is motivated by the fact that both Heerema and Wilh Wilhelmsen wish to focus on their respective core businesses," the sellers said.
"The deal is valued in excess of $700 million," the companies said.
The Heerema Group owned 76% of Dockwise, with Oslo-listed Norwegian shipping group Wilh Wilhelmsen holding the remaining 24% stake..
Dockwise has a fleet of vessels and provides heavy-lift transport for the marine and oil and gas industries.
"This investment is a great fit with both our sector and local presence in the Benelux and builds on our impressive track record in the oil, gas and power sector," said Graeme Sword, 3i's head of oil, gas and power team.
3i will retain the current management team in Dockwise, led by chief executive Andre Goedee, Heerema and Wilh Wilhelmsen said.