Macro Offshore, a new high-end accommodation player was created in 2019 through a merger of Master Marine and Crossway Holdings

The new group, Macro Offshore, is a fully integrated owner and operator of vessels with a fleet of two harsh-environment deep-water accommodation jack-up rigs, Haven and Crossway Eagle. Macro Offshore further controls one accommodation jack-up rig under construction at DSIC Offshore in Dalian, China which is available for work commencing in 2020.

In 2009, Nordic Capital Fund VII acquired Master Marine, an offshore energy service company specialising in accommodation, transportation and installation of heavy structures for the oil, gas and offshore wind power industries, in 2009.

The merger between Master Marine and Crossway Holdings was announced and completed in 2019.

In April 2018, Nordic Capital’s 2008 vintage fund, Fund VII completed the transfer of its remaining nine unlisted portfolio companies including Master Marine, to a continuation vehicle, Nordic Capital CV1 or "CV1". Fund VII’s original term expired in December 2017 and by this transaction, Nordic Capital took the opportunity to maximise the value creation potential of these nine companies, providing them with active support and fresh capital over an additional five-year holding period under continued Nordic Capital management.

Sector

Other

Key Information

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Revenues 2018*

EUR 105 million

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Employees

10

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Ownership

Nordic Capital Fund VII, Nordic Capital CV1

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Head office

Stavanger, Norway

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Investment date

2009, 2018

* Pro forma financials