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Champ Private Equity eyes Shelf Drilling IPO

10 Mar 2014

ship boat oil tankerAustralian buyout firm Champ Private Equity plans to float its portfolio company Shelf Drilling on the London Stock Exchange.

Champ managing director Nathaniel Childres said at an Asian Venture Capital Journal that the firm is in a process of “moving for a listing of that business on the London Stock Exchange hopefully in mid-May,” according to Reuters.

The firm launched the company in 2012 to acquire 38 drilling rigs from Transocean. Childres said that the business has already produced very strong financial returns.

Last month Champ appointed John Haddock as its first CEO.

Haddock will retain his current position of managing director and continue his role in deal flow generation and portfolio management, the firm said in a statement.

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