Matheson is pleased to have advised S2G Ventures, a multi-stage investment firm, the Oil and Gas Climate Initiative, an industry led specialist investor, Morgan Stanley’s 1GT Fund and an affiliate of the Crown family’s CC Industries Inc. on their combined €115million investment in XOCEAN (the “Investment”), a leading provider of data collection solutions for environmental and ocean data.
The Matheson team was led by Corporate M&A Partners Robert Maloney-Derham and Brian McCloskey, Associates Aisling Smith, Dan McAleese and Teresa Carty, and Trainees Liam McCarthy and Harry Healy. A range of lawyers from Matheson’s other practice areas were also involved including Carlo Salizzo, Chris Hutchinson, Emily Griffin, Kristina Radits (Technology and Innovation Group), Vahan Tchrakian, Chloe Power and Claire Connor (Tax), Alice Duffy, Shane Gallen and Naomi Douglas (Employment), Sally Anne Stone and Laura James (Commercial Real Estate), Ian O’Mara and Alison Howett Shanley (Financial Institutions Group), Karen Reynolds, Aishlinn Gannon and Darragh Casey (Commercial Litigation), Paul Carroll, Richard Halpin and Kevin Seery (Finance and Capital Markets).
XOCEAN was founded in 2017 and is based in County Louth, Ireland. Speaking on the investment, Francis O’Sullivan (Managing Director for S2G) has recognised that the investment represents a unique opportunity at the intersection of the energy and ocean sectors. The investment will support XOCEAN in accelerating the growth of their platform servicing the offshore energy and civil hydrography sectors and assist XOCEAN’s expansion and product innovation efforts going forward.
Robert Maloney Derham, Partner in Matheson’s Corporate M&A team stated: It was a pleasure to work alongside the S2G Ventures again in relation to another investment in a thriving Irish business. This transaction showcases the successful growth of an Irish company, backed by domestic venture capital funds, now partnering with international PE funds to accelerate further growth in the business.
As one of Ireland's largest law firms, Matheson has some of the most experienced corporate lawyers in Ireland. Excellence matters and Matheson's corporate department has unrivalled experience in advising clients across all industry sectors, making the firm uniquely positioned to partner with clients to successfully deliver on complex and innovative domestic and international transactions.
For more information about our legal services, please contact a member of the Corporate team or your usual Matheson contact.
