3i, a European private equity company, has sold its stake in Epcon Offshore AS, a provider of produced water treatment systems for the oil & gas industry, to M-I Swaco.
Offshore staff
(US, Europe) - 3i, a European private equity company, has sold its stake in Epcon Offshore AS, a provider of produced water treatment systems for the oil & gas industry, to M-I Swaco.
3i invested in Epcon in November 2004 and retained its presence on the Norwegian Continental Shelf, established itself on the UK Continental Shelf, and has successfully expanded overseas.
During 2005, the company won approximately $33.1 million worth of contracts and entered new geographies such as Canada and the Middle East.
New client wins include Exxon, Chevron, Maersk and Marathon.
