Seagull offers a comprehensive library of training and on-board courses for regulatory compliance and improved seafarer knowledge. The company was established in Norway in 1996 by experienced mariners and has a strong customer base of ship owners and ship operators worldwide. Seagull is delivering training solutions to approximately 9000 ships and other installations around the world. The content library has a unique width with more than 290 modules, mainly comprised by off-the-shelf training content, supported by some bespoke solutions. Seagull has approximately 125 employees based in seven offices, and reported revenues of NOK 166 million in 2014.
In 2014, Seagull launched an initiative towards the oil & gas sector. With an extensive content library and close relationships to a number of blue chip customers, Seagull Oil & Gas aims to grow within computer-based training in the oil & gas sector.
“Seagull has a strong market position in a niche market with solid fundamental drivers. We are impressed by the company’s outstanding track record and believe there is great potential for further profitable growth, due to its scalable business model and attractive growth drivers”, says Morten Blix, Senior Partner at Herkules Capital.
Oscar Johansen, Chairman and Founder, says: “We have ambitious plans for Seagull, and see great potential for further growth within and beyond our current markets. We look forward to working with Herkules and are excited about the opportunity to capitalise on their competence and network in order to continue growing the company.”
The transaction includes acquisition of all shares in Seagull AS from GMT Communication Partner LLP, management and employees. Management will reinvest a high share of their proceeds and will continue as owners alongside Herkules Private Equity Fund IV. Closing of the transaction will take place in Mid June 2015.
Contact:
Morten Blix, Senior Partner at Herkules Capital
Phone: +47 92 80 18 24
Oscar Johansen, Chairman and Founder of Seagull
Phone: +47 90 86 63 46
Seagull is a Norwegian company offering computer based training systems for the maritime and oil & gas sector. The company offers a comprehensive library of training and onboard courses for regulatory compliance and improved seafarer knowledge. Since 1996, Seagull has delivered its software based training solutions to approximately 9000 ships and other installations around the world. For more information, please see www.seagull.no
Herkules is a leading Private Equity firm in Norway and has raised funds with committed capital totalling approximately NOK 15 billion. We invest in companies located in the Nordic region, primarily in Norway, and acquire majority interests in established businesses with strong growth potential. We have a proven experience in working in partnership with existing shareholders. Our approach to ownership is industrial and long term, and is built on fundamental respect for the history, culture and experience within each individual company. More information can be found at www.herkules.no.
