The Netherlands: Noordhoek Group Overcomes Turbulent Times

After a turbulent period the Noordhoek Group has finalized and formalized a re-launch of the group. By attracting external capital the company is to proceed to operate at the same location in Zierikzee, while the vast majority of the quality staff will be able to join the company.

The investment company Value Enhancement Partners from Amsterdam will obtain a majority share and will be supported by the Noordhoek family and Hanzevast, the owner of the Noordhoek Pathfinder Cees Noordhoek stated: “Because of the new financial structure and the planned reinforcement of the management, future development will be looked upon with great confidence and the company will be able to extend their specialist knowledge in the area of Diving, Subsea IRM, Survey and Subsea Equipment”

All major activities, including various recently awarded projects, are continued unaffected. At this moment the Noordhoek Group is immediately involved in a variety of projects, among which the construction of the second “Coen Tunnel”, IRM and Survey projects at the North Sea and the Mediterranean.

Noordhoek is a leading provider of Subsea Construction, Diving, ROV and Survey Services to the offshore oil and gas industry, serving operators and contractors internationally and domestically in the North Sea. Construction services include installation, upgrading and decommissioning of pipelines and production infrastructure. Diving, ROV and survey services include inspection, repair and maintenance services and support services for subsea infrastructure and underwater structures. Supply of high-tech subsea equipment is, within the Noordhoek group, the domain of Seatec Underwater Systems.

VEP is a privately owned investment firm founded in 1999. Since the start VEP has developed into one of the more important “special situation” investment firms in the Benelux area. VEP has built a strong investment track record through investments in complex situations whereby it provides long term financial commitment in combination with serving as a close strategic and operational partner.

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Source:Noordhoek , May 16, 2011;