Simpson Thacher represented private capital financing sources supporting the acquisition by McIntyre Partners of Moreld Apply, Moreld Ross Offshore and Moreld Global Maritime (collectively “Moreld”) from HitechVision. Members of Moreld’s incumbent management and Velocity Partners will own minority stakes. Other terms were not disclosed.
Moreld is a leading multi-disciplinary engineering group based in Norway that serves the offshore energy and marine sectors.
McIntyre Partners and Velocity Partners are private equity firms focused on the energy, industrials and infrastructure sectors.
The Simpson Thacher team included Brian Rosenzweig, Matt Hart, Rachel Lerman, Maggie Selbe, Mary Richardson and Adam Danciu (Alternative Capital); Matt Einbinder and Jason Hwang (Credit); Clare Gaskell and Laura Harris (UK Corporate); Jonathan Lindabury and Jakarri Hamlin (Derivatives); and Yash Rupal, Jon Cantor, Sefia Jivraj and Preston Irace (Tax).