ABG Sundal Collier acted as financial adviser in the sale of Seagull to Oakley Capital

 
On Monday 13-May, Herkules Capital announced the sale of SG Midco AS, which is the indirect owner of Seagull Group (“Seagull”), to Oakley Capital. The transaction includes the sale of all shares in SG Midco AS from SG Holdco AS, a company controlled by Herkules Private Equity Fund IV, and certain other shareholders. The management of Seagull will reinvest a high share of their proceeds and will continue as owners alongside Oakley Capital.
The financial terms of the transaction are not disclosed, but the transaction underpins Seagull’s robustness and the agreed upon enterprise value (“EV”), which also reflects the recent acquisition of Tero Marine, implies a net interest bearing debt to EV of below 50%.
ABG Sundal Collier acted as sole financial adviser to Herkules Capital in the transaction.
About Seagull
Seagull is the preferred provider of training and competence management solutions for the maritime industry worldwide, with a proprietary e-learning platform and with a vast end-user distribution. Seagull was established in Norway in 1996 by experienced mariners and has grown to become a market leader with more than 11,000 installations around the world.