Major investment in Barge Master
Parcom Capital and the management team of Barge Master announced today that agreement has been reached on the participation of Parcom Capital as majority shareholder and investor in Barge Master Holding B.V.
Barge Master is active in the field of motion compensation technology for the maritime and offshore industry, compensating movements of vessels from waves and thereby significantly increasing the number of workable hours/days of offshore vessels. Managing Director/founder Martijn Koppert will continue to be CEO of Barge Master. Frans van Seumeren who invested in Barge Master in 2010 will roll over part of his current stake and continue to be involved with the company.
Current projects of Barge Master include the piping bridge installation for the Shell Malampaya project, in which Barge Master’s T-700 multipurpose motion compensated platform will operate, and the delivery of the new T-40 motion compensated crane on the Kroonborg, Wagenborg’s new vessel which will operate in the North Sea for maintenance work on platforms of NAM/Shell. Barge Master recently ordered its second T-700 platform and secured a fabrication slot for delivery of the hydraulics for the third platform.
Apart from the new platforms and cranes Barge Master’s R&D team are working on the roll out of a motion compensated helicopter deck and a motion compensated piling frame. Additional motion compensation technology applications may follow, building on Barge Masters’ expertise and knowledge in motion compensated cranes and platforms.
Martijn Koppert, CEO of Barge Master comments: “we are very pleased to welcome Parcom Capital as new shareholder, further enabling us to accelerate and serve our clients with an increasing fleet of motion compensation systems. We see an increasing demand in the rental and sale of motion compensated platforms and cranes. Broadening our group of shareholders with Parcom Capital enables us to leap forward in our ambitious growth strategy. ”
Piet-Hein de Jager, partner at Parcom Capital said: “we are very pleased to invest in such an innovative and ambitious niche player in the global offshore industry. With the current management team and Frans van Seumeren as co-shareholders we believe that this company is well positioned to further benefit from the growing demand for motion compensation technology. We look forward to working with management in further developing and expanding the company. ”
Frans van Seumeren comments: “I have great confidence in the future of Barge Master; therefore I remain shareholder and will continue investing in the company. The current growth of RollDock and Roll-Lift, my main investments, made me decide not to remain the sole investor in Barge Master. With Parcom we have a strong partner which is known in the industry. ”