Topaz is headquartered in the
Topaz's parent company is
The proceeds from the investment will be used to fund Topaz's expansion plan, which includes the acquisition of vessels for existing business and geographical expansion.
SCPE will be granted a board seat and will provide strategic insight towards delivering on Topaz's global business and capital market ambitions.
"Topaz's high quality management team, committed shareholder base and independent governance are admired by many in the region. We look forward to working with our partners at Topaz and helping the company achieve its long-term strategic objectives," said
This is the first investment in the
"The diversification of our sources of capital puts Topaz firmly on the path to eventual independence as a world-class OSV business, as envisaged by
Topaz management said the company is keen on further geographical diversification and growth through both organic expansion and acquisitions and the recent infusion of funds will accelerate this.
"SCPE is investing because of its firm belief in the Topaz story, the team and our strategy, and we look forward to working together in close partnership," said RenÃ
Most Popular Stories
- Businesses, Investors Pressing for Green Policy
- 'The Voice' Sounds Different This Season
- NSHMBA to Rebrand With New Name, Logo
- Lower Used-Car Prices Roil the Auto Industry
- Chrysler and Google Launch Virtual Plant Tour
- Perry Wants to Skip Court for Foreign Trip
- Investors Fret Yahoo's Future, Stock Dips
- Iran Digs in on Underground Nuclear Site
- Existing Home Sales in U.S. Fell in August
- Liberty Power Helps USHCC Go Green