Idwal Marine Services reports that it has secured new investment from private equity partner LDC to support the development of its technology platform and expand its global service footprint.
UK-based Idwal was originally founded as a division of Graig Shipping in 2010. The company provides vessel condition and integrity inspections, fleet monitoring and data services to maritime stakeholders for use when evaluating investments in marine assets and when assessing the condition of vessels and fleets, with its Idwal Grade asset condition rating used for sector peer-group benchmarking.
With LDC’s support, Idwal’s management team says that it plans to further develop the platform, data and service provision and expand its network of overseas offices, which already includes China, Greece and Japan.
LDC’s investment was led by Dewi Hughes, Oliver Schofield and James Garland from its Wales & South West team. Dewi Hughes and Oliver Schofield will join the Board. As part of the investment, Gehan Talwatte, a chairman of several private equity backed companies in the data services sector – including Lloyd’s List Intelligence – has been appointed Non-Executive Chairman of Idwal.
“This is the ideal outcome for both Idwal and Graig, as well as our customers and colleagues. As an independent company with the support of LDC, Idwal is strongly positioned to increase investment in its services and its international presence,” said Nick Owens, CEO of Idwal.
“The LDC team were exactly what we were looking for. Their local presence and successful track record in helping technology businesses develop and scale made them the ideal partner to support our growth plans.”
