Portfolio
Franklin Offshore International
| Investment type | Growth Capital |
|---|---|
| Region | South East Asia |
| Status | Current investment |
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Nature of Business
Franklin Offshore is a leading global provider of lifting, mooring marine equipment and services to the offshore oil, gas and general marine industries. Franklin works closely with oil majors, rig owners and offshore contractors to design, manufacture, certify and manage a range of deepwater mooring and rigging products and services.
The company has grown from its origins in South East Asia and now has a global presence spanning the Middle East, US, Europe and Azerbaijan. It is acknowledged as the market leader in Asia.
Investment Overview
3i invested in Singapore-based Franklin Offshore in July 2007, taking a minority stake and backing the existing management team and growth strategy.
We have drawn on expertise from our team in Singapore and our global Oil, Gas & Power team whose market insight and networks have been well received. Franklin is focused on geographic expansion driven by increased E&P activity throughout SE and North Asia and aims to expand its international reach. We have supported the company with establishing a Dutch sales office and manufacturing facility, to ensure greater access to the global rigging industry, which is centred in Holland.
We also worked with the current management team to identify and introduce additional management expertise to the business and to support the business in becoming a regional champion and service provider through its established relationships both regionally and internationally.
Following our investment, Richard Lorentz, co-founder of our former SE Asian investee company, Pearl Energy, has joined as Chairman and brings a wealth of experience to the Board.
