Topaz Energy and Marine
Leading offshore support vessel company providing marine solutions to the global energy industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
$1.1b Valuation: $1.1b | Acquisition | ||
| Total Funding | 000k | ||
The story of Topaz Energy and Marine begins not as an energy giant, but through a series of strategic acquisitions. Its origins trace back to Nico International, a ship repair company founded in Dubai in 1973. The playbook was growth through acquisition. Led by figures like Chairman Samir Fancy, Topaz began absorbing other companies to build its marine services capabilities. Throughout the 2000s, the company executed a disciplined strategy. It merged with Renaissance Services to acquire BUE Marine Services, expanding its footprint into the crucial Caspian Sea market. It later bought Doha Marine Services, adding more vessels to its growing fleet. This wasn't a high-flying tech startup, but a methodical consolidation play in the offshore oil and gas support industry. Topaz operated a modern fleet of vessels that provided critical logistics to major energy companies like BP, Chevron, and ExxonMobil. The company’s journey culminated in a significant event. In July 2019, global port operator DP World announced it was acquiring Topaz Energy and Marine for an enterprise value of over $1 billion. The acquisition was a strategic move for DP World to strengthen its position in maritime logistics, complementing its existing P&O Maritime Services business. For Topaz, this was the ultimate validation of its long-term strategy, proving that disciplined growth and a focus on essential services could lead to a major league exit.