Author: ldelaney

Moreld reports a solid fourth-quarter performance, marking a robust conclusion to the year. The company achieved fourth quarter revenues of NOK 2.4 billion and an adjusted EBITDA of NOK 128 million. The results reflect robust performance in a quarter with lower seasonal demand for subsea and marine operations in the North Sea and intercontinental transit…

The listing followed the company’s recent raise of about NOK 1 billion in new equity through a share issue, which implied a post-money equity value for the company of approximately NOK 2.55 billion. Proceeds will be used to repay debt and for general corporate purposes.

Moreld has entered into an agreement with HitecVision to acquire Ocean Installer, a marine construction company that serves the offshore energy sector.  This acquisition creates a diverse offshore engineering and project execution group, capable of providing top-side, subsea, and marine engineering, as well as maintenance and construction services.

We speak to Founder and Managing Partner Mark Dickinson who shares his insights on our inaugural acquisition and Velocity’s vision for the future.

Velocity Partners today marks its launch by announcing the acquisition of Moreld Apply, Moreld Ross Offshore and Moreld Global Maritime (collectively “Moreld”), a group of companies that form a leading multi-disciplinary engineering group serving the offshore energy sector.