3i, a global leader in private equity, and funds managed by 3i, today announces it has agreed the buyout of Dockwise Transport N.V., the Dutch heavy transportation company based in Breda, The Netherlands, from Dutch offshore services company Heerema Group and Norwegian maritime group Wilh. Wilhelmsen. The deal is valued at over $700m.

Dockwise is the world-wide market specialist in heavy-lift transportation for the marine and oil and gas industry.  It has a fleet of 15 semi-submersible vessels, of which four are specialised yacht carriers.  With a versatile fleet of vessels, Dockwise offers clients unparalleled flexibility and transport capacity on even the most complex of projects.

Graeme Sword, 3i’s Head of Oil, Gas & Power team commented on the deal:  “Dockwise is a market leading business, recognised by its customers as offering a highly flexible and bespoke service.  We are attracted by its growth prospects, its highly recognised brand and its highly qualified people.  It is the type of company we want in the 3i portfolio. This investment is a great fit with both our sector and local presence in the Benelux and builds on our impressive track record in the oil, gas & power sector.”

Guus Overdijkink, Director in 3i Benelux, added:  “3i was uniquely placed to do this kind of deal, which led to the company’s interest in working with us.  We have drawn expertise from our European buyout teams in Amsterdam, London, and our Oil, Gas & Power team in Aberdeen to pull together a multi-national team whose market and operational experience and strategy aligned with that of the management team.”

3i is retaining the incumbent management team, led by CEO André Goedée.

André Goedée, CEO of Dockwise, summarised: “This is an exciting time for Dockwise.  The Heerema Group and the Wilhelmsen Group have been strong shareholders in the company and 3i is well placed to take the reigns and continue supporting our strategy for continued growth and development.”