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Herkules Capital acquires Seagull maritime training business

Herkules Capital has agreed to buy Seagull Group, a Norwegian maritime training business, from GMT Communications Partners. 

No financial terms were disclosed for the transaction which is expected to be completed in mid-June. 
Seagull provides training and compliance tools for the maritime and oil & gas sectors. 

Its offerings are delivered through cloud-based and on-site solutions, for use on vessels, in offices and colleges, and online.
GMT, a private equity firm focused on the media and technology sectors, invested in Seagull in 2012 alongside Oscar Johansen and Roger Ringstad, its chairman and managing director respectively. 

It has since taken the firm into the oil & gas market, making two acquisitions and establishing a new oil & gas training division.

GMT said the sale had delivered it a 2.3x return in two and a half years. Capstan Capital Partners advised it on the transaction, Shearman & Sterling and Tenden Advokatfirma provided legal advice.

Posted on: 11/06/2015

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