Topaz Energy and Marine CEO René Kofod-Olsen. Image courtesy of Topaz Energy and Marine.

Offshore vessel operator Topaz Energy and Marine secured a $75 million equity investment from Singapore-based Standard Chartered Private Equity (SCPE).

SCPE will inject $75 million of equity into Topaz in return for a 9.8 percent stake in the company.

The funds will be used to support Topaz’s long-term fleet expansion plans.

“Joining forces with a private equity powerhouse like SCPE will enable Topaz to truly accelerate the realization of our strategic plan,” Topaz’s CEO René Kofod-Olsen said.

SCPE is a private equity and venture capital arm of London-based Standard Chartered PLC.

Dubai-based Topaz has a fleet of more than 100 vessels with a focus on Middle East and the Caspian Sea operations.

Topaz is a wholly owned subsidiary of Renaissance Services SAOG. Renaissance is based in the Sultanate of Oman.

In 2013, Topaz’s revenue was $376 million and its EBITDA was $163 million.


Leave a Reply