UK, Spanish firms acquire stake in Singapore OSV operator

HICO, the UK-based private investment business owned by Sea Consortium CEO Tim Hartnoll, and Spanish logistics specialist Perez y Cia have acquired a significant interest in Singapore-based offshore support vessel (OSV) operator Britoil Offshore Services.

HICO said the investments will lead to the streamlining of Britoil’s anchor handling tug and platform supply vessel (PSV) operations and the development of long-term strategies with the aim of ensuring the latter’s future growth.

Britoil will continue to be chaired by company founder David Hill, who will also remain as one of its shareholders.