Tekmar Group, which supplies technology and services for the global offshore energy markets, is considering a proposal from a global institutional investor to make a strategic investment in the company, which would provide funding to accelerate its growth plans.
In June, Tekmar revealed that it had commenced a formal sale process in order to find a partner that could support its opportunities for growth and strengthen its balance sheet.
An unnanmed preferred partner has now been granted a 60-day period of exclusivity to carry out further due diligence and finalise its proposal, which would provide backing for the listed business to expand both organically and by acquisition.
Source: Insider Media