HitecVision exits Noble Denton
HiTecVision has exited its investment in marine and engineering consultancy service Noble Denton through a trade sale to international technical assurance business Germanischer Lloyd for an undisclosed sum.
In 2006, HitecVision and investment company Ferncliff backed the management buyout of the company in exchange for a 60% equity stake, with management holding the balance. Over the course of the investment Noble Denton tripled its turnover to £100m in 2008, and quadruple its EBITDA to £20m for the same year.
London-based Noble Denton offers a range of marine and offshore engineering consultancy services to the global shipping, insurance and energy industries. It was founded in 1904 and employs 900 staff in 14 countries worldwide.
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