Enpro Subsea Gets EV Private Equity Boost
Enpro Subsea has secured investment from EV Private Equity (EV) to grow its production optimisation business into new international markets and further develop the range of production optimisation and intervention technologies.
The Aberdeen-headquartered subsea company enters 2018 with projects currently ongoing in the UK Continental Shelf, West Africa, and Gulf of Mexico.
The deal will see the business receive backing from EV Private Equity as part of its pledge to invest $200 million into North Sea businesses.
The cash injection from EV should allow Enpro to further develop the patented flow access module (FAM) technology as well as capitalise on the success of the flow intervention services (FIS), and decommissioning systems.
Enpro Subsea managing director, Ian Donald, said: “Starting 2018 with news of our partnership with EV Private Equity is exciting. Coupled with a robust order book for our FAM, FIS and decommissioning technologies, the investment puts us in the strong position to deliver the next stage of our business growth strategy.”