DeepFlex, a US-based maker of flexible pipe for subsea oil and gas production, has raised an undisclosed amount from a consortium including Brazil-based infrastructure company Promon.
Other investors in the round include Norway-based investment management firms Klaveness Marine and Mobelmagasinet Tvedt, Brazil-based private equity firms Mare Investimentos and Mantiq Investimentos (as the first deal in their co-managed Brasil Petróleo 1 & 2 funds), fund manager AEM Capital and oil major Saudi Aramco-backed venturing group Energy Ventures.
DeepFlex said on its website its other investors have included fund managers Robeco and Nomura Clean Technology Ventures.
Founded in 2004, DeepFlex’s last disclosed round was $38m in April 2008, according to its regulatory filing.
DeepFlex said the money would help set up a manufacturing centre in Brazil, where the company recently opened an office. The Brazilian market represents over 65% of the worldwide demand for unbonded flexible pipe used in offshore production.