Arrowpoint Advisory's Industrial sector team has advised the management team of Red7Marine's Inland & Coastal division on the carve-out of their marine services and equipment business from Red7Marine Group backed by Perwyn, a private equity investor.
The renamed I&C Ltd the business is a leading operator of specialised plant for the marine construction industry. From its base at Wrabness in Essex, I&C operates a fleet of jack-up barges of up to 400 tonnes capacity and associated plant serving clients across a range of industries.
Nick Offord, Managing Director of I&C said: “I thank the Arrowpoint Advisory team for their support throughout this process. Their sensitive approach to steering this transaction to a mutually satisfactory conclusion has ensured that we, as a management team, and our investors have a secure platform for the future growth of the business.”
Nick Field, Director at Arrowpoint Advisory, added: “I&C is an impressive business with a track record of delivering growth and clear opportunities to further expand its leading market position. We are proud to have assisted Nick and his team.”
This transaction is Arrowpoint Advisory's latest management advisory transaction, closely following the successful completion of Palamon Capital's acquisition of The Rug Company and Inflexion's acquisition of a majority interest in Scott Dunn.