VALUE CREATION CASE STUDIES

ICON OFFSHORE BERHAD (ICON)

  • ICON is the largest Offshore Supply Vessel (OSV) provider in Malaysia and one of the largest in Southeast Asia in terms of number of OSVs, according to the Infield Report.
  • The company has 32 vessels operating in waters off Malaysia, Thailand and Qatar. The vessels have had a history of international operations in more than 10 countries in the Southeast Asia and Middle East regions.

Investment Rationale:

  • Strong track record of delivering growth.
  • Platform for building one of the largest local OSV players.

Transaction Details:

Investment type
Majority investment in a strong Malaysian company
Ownership
42.3%
Acquisition Date
November 2012, merger of TKS and Omni
Partial Divestment
June 2014

Ekuinas toiled with us to achieve our objective of becoming a listed company. I am grateful for all their assistance in this process. I would advise companies to grab the opportunity to work with a private equity firm. They have the skills, expertise and knowledge to take your business to the next level.

Dr Jamal Yusof,
Previous Chief Executive Officer
of ICON Offshore Berhad