BNY Mellon-Alcentra Mezzanine Partners has invested $15m in Acis Offshore Technologies senior secured debt in support of an Intervale portfolio company and growth in Offshore Energy Service Market.
The financing of Acis, Alcentra’s second transaction, has caused the merger of two existing Intervale Capital portfolio companies, Galathea and Proserv.
Alcentra senior vice president Scott Gold said that the merger will create operational and financial critical mass, provide a broad geographical footprint, enhance managerial efficiencies and facilitate cross-selling opportunities.
Acis will focus on the growing offshore and subsea markets under Proserv trade name and will offer products and services related to drilling, production, and decommissioning segments of the oilfield lifecycle.
BNY Mellon-Alcentra Mezzanine Partners is a division of Alcentra and partly BNY Mellon Asset Management managing $500m of capital. The division provides subordinated debt and equity capital to middle market companies across North America.