3i Infrastructure has agreed to syndicate 16.9 percent of its stake in ESVAGT to 3i Aura, a newly established vehicle managed by 3i Investments and funded by three institutional investors.
ESVAGT is in the fast-growing segment of service operation vessels for the offshore wind industry and is also a major provider of emergency rescue and response vessels and related services to the offshore energy industry in and around the North Sea and the Barents Sea.
3i Infrastructure’s holding in ESVAGT will decrease from 100 percent to 83.1 percent for consideration of DKK 785 million ($113 million), in line with the valuation as of March 31.
The proceeds will be used to repay part of the company’s outstanding RCF balance.
“This transaction helps 3i Infrastructure to maintain a balanced portfolio and provides useful additional liquidity,” said Phil White, managing partner and head of infrastructure at 3i Investments. “We are pleased to have attracted three
