Cathay Capital invests in French marine service provider SeaOwl

Financial details were not disclosed but investment size was said to be above EUR10 million ($11 million), according to AVCJ's sister publication unquote".

SeaOwl was founded in 2008 as part of the parent group V.Ships and became independent in 2012. Through its subsidiary Fortiori, the company provides technical assistance and facility management for clients including Total, Addax Petroleum, Perenco, GDF Suez and Vermillon. The company also operates ship management business and currently owns three ships, which are contracted to the French government.

SeaOwl's business has expanded in recent years across Southeast Asia and Africa, as entering new areas within the oil and gas and marine professional training segments, Cathay Capital said in a statement.

The transaction comes from Cathay's Sino-French SME Fund and Cathay Capital II which was launched in July 2011 and closed with EUR187 million in 2012. SeaOwl plans to use the new capital to grow internationally via an M&A strategy in the rest of Asia, the Middle East and South America.

Last month, the private equity firm bought a 25% stake in Chinese food ingredient maker Cabio Bioengineering through its Sino French Midcap Fund. In April, Cathay led a consortium of investors that paid EUR52.5 million for a 49% stake in French diagnostic device maker Echosens. 

The midcap fund reached its EUR500 million hard-cap last year and is expected to 40% of its capital in France, 40% in China and 20% in the rest of Europe, with a core focus on Germany.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Expansion
• Industrials
• Support services
• China
• Europe
• Cathay Capital Private Equity
• Logistics
• Growth capital
• Outbound investment