Investcorp, the asset management firm specializing in alternative investments, today announced that it has acquired Moody International (Holdings) Limited, a leading global provider of inspection services and outsourced personnel supply to the oil and gas sectors, as well as a leading provider of certification services in certain high growth markets.
Established in 1911 and headquartered in the UK, Moody has a particularly strong presence in North America, Northern Europe, Russia, the Caspian region and North Asia (including Japan and China) and a growing presence in the Middle East, Southern Asia, South America and Africa. Moody boasts a blue chip client base including BP, Royal Dutch Shell, Statoil, Exxon Mobil, Chevron, Dow Chemicals, Saudi Aramco, Lukoil and Rosneft. The Company’s range of services includes on-site vendor inspection, fabrication inspection and maintenance inspection services to many of the world’s leading oil and gas companies. Moody utilizes its global network of offices to co-ordinate the provision of these services for its clients primarily in support of their upstream oil and gas development projects.
Commenting on the transaction, Gary Long, Investcorp's Chief Operating Officer, said: “The acquisition of Moody represents an attractive investment opportunity for Investcorp given its leading niche positions, earnings generated worldwide from a very high quality client base, and the continuing strong growth in demand for services in the oil and gas sectors.”
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