Subsea ROV firm ROVOP secures $25M investment from Cordiant
April 13, 2023
Cordiant says it is supporting ROVOP as it continues to invest in its fleet infrastructure and employees and to allow the business to continue capitalizing on favorable offshore market dynamics.
Courtesy ROVOP
Offshore staff
LONDON — ROV provider ROVOP has secured a new $25 million senior secured credit facility with Cordiant Capital, a global infrastructure and real assets manager.
Backed by private equity firm Bluewater, ROVOP provides offshore equipment and services, including the installation of wind-farm related infrastructure, gas pipelines and undersea internet cables.
Cordiant says it is supporting ROVOP as it continues to invest in its fleet infrastructure and employees and to allow the business to continue capitalizing on favorable offshore market dynamics by securing new contract wins across both newbuild construction, decommissioning, surveillance and maintenance services.
This latest investment by Cordiant via its LP credit mandates, builds on existing credit facilities in solar and wind power and upstream gas in Greece, Romania and Turkey, respectively, and it is aligned to the firm’s belief that an opportunity exists to supply flexible credit solutions for energy transition infrastructure across Europe.
