Offshore staff

LONDON -- 3i is investing in Singapore-based Franklin Offshore. Intermediate Capital Group is providing mezzanine financing and investing alongside 3i.

Franklin designs, manufactures, certifies, and manages a range of deepwater mooring products and services and related equipment.

"3i is uniquely placed to partner with us given the combination of its energy sector experience and local presence in Singapore," says Angie Tang, CEO of Franklin.

"Franklin is a market leading business, with an outstanding reputation amongst its customers for quality and service and robust growth potential," adds John Thomson, director, 3i Singapore.

3i's investment in Franklin is its third energy-related investment in the region. 3i previously invested in Southeast Asia-focused Pearl Energy, an independent exploration and production business with a portfolio of oil and gas interests across Indonesia, Thailand and the Philippines. Richard Lorentz, co-founder of Pearl Energy, will be joining the 3i board as chairman.

7/23/2007