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E-LEARNING BUSINESSES UNDER NEW OWNERSHIP

Tuesday, May 14, 2019 

Oakley Capital Investments Limited has assisted with buyouts of two maritime training specialists, Videotel and Seagull.

Oakley Capital IV2 (Fund IV) partnered with the management teams of SG MidCo AS (Seagull), and Videotel Marine Asia Limited and Super Dragon Limited (collectively Videotel), to acquire majority stakes in the businesses from their current shareholders Herkules Private Equity Fund IV and KVH Industries (NASDAQ: KVHI), respec tively.

Over the past 40 years, Videotel and Seagull have established themselves as providers of e-learning to the maritime sector globally. Every year they each provide over 10,000 ships and installations with comprehensive and up-to-date compliance, risk and safety training that ensures adherence to IMO requirements. In 2018, the two companies collectively generated US$50 million of revenue.

The management teams of Seagull and Videotel believe that opportunities in digital e-learning can be grasped most effectively by working together as a combined group. With both parties able to collaborate and share knowledge and resources, the two businesses will be able to provide their respective customers with a greater level of product and services.

Oscar Johansen, Chairman and Founder of Seagull, will take up the role of President of the combined group. Roger Ringstad and Raal Harris will continue to lead Seagull and Videotel, respectively.

Oakley's contribution through its Fund IV is expected to be approximately £25 million.

Raal Harris (pictured), MD of Videotel said: “This is a historic moment in the history of maritime e-learning. In combining our expertise and sharing the additional resources that an ambitious and forward-thinking company like Oakley can provide, we will be able to meet the needs of our customers in ways never previously possible. We are confident that Oakley has assembled a team of unrivalled quality to take our companies forward and are excited about what the future holds.” 

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