Velocity Partners, a new private equity firm focused on the energy and industrials sector, has bought a minority stake in Moreld to spearhead its launch.
It follows private investment firm McIntyre Partners announcing on Monday it had entered into an agreement with HitecVision, to buy the core business of Moreld Group, consisting of Moreld Apply, Moreld Ross Offshore and Moreld Global Maritime.
Moreld has an established presence on the Norwegian Continental Shelf, which supplies approximately 30% of Europe’s gas. The region is undergoing a period of significant capital investment due to tax incentives, field life extension and decarbonisation.
Velocity Partners is founded by Mark Dickinson and Neil Hartley, private equity investors focused on the energy industry. They plan to target ‘long-term value-creating opportunities across the energy and industrials sector, and to raise capital on a deal-by-deal basis’.
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