November 4 - LOC Group has secured a minority external investment from Bridgepoint Development Capital (BDC).
Financial details of the investment were not disclosed, but there will be no change to the companies' existing management teams.
LOC Group ceo, Andrew Squire, welcomed the new shareholder, hoping that BDC will be able to provide professional insight, build LOC's market presence and open new offices to expand its international capability.
BDC partner, Alan Payne, added: "In making this investment BDC is providing the capital for LOC to enfranchise its younger generation of managers with equity in the business. We are also recognising LOC's future growth prospects that are underpinned by increased global oil and gas capital expenditure as well as the growing shipping market."
Headquartered in London, LOC is a global marine and engineering consultancy and survey organisation, providing services to the shipping and offshore energy industries.
Bridgepoint is a private equity group, with BDC focusing on lower middle-market buy-outs and growth capital investments in businesses.
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