EIG to acquire Ocyan from Novonor and BNDES for $390m.

EIG, an institutional investor, agreed to acquire Ocyan, a solutions provider to the offshore oil and gas industry, from Novonor, an engineering and innovative solutions provider, and Brazilian Development Bank, a financing agent for development in Brazil, for $390m. “I have known and respected Ocyan for decades. The company’s resilience and the strength of its business have helped it overcome significant economic headwinds while maintaining a healthy balance sheet, positioning Ocyan for long-term growth. Brazil is home to over 25% of the global FPSO fleets, and we believe the future market dynamics for oil and gas infrastructure in Brazil are very favorable, underscoring our dual commitment to supporting growth and development in this important region while creating value for our investors. We are also excited to support Ocyan’s ventures in the renewables space to help drive the energy transition forward," R. Blair Thomas, EIG Chairman and CEO.