Asia-focused Navis previously invested in Dôme by buying a stake in the business in 2003 through its Asia Fund III.
The firm tapped its Asia Fund VI for the most recent transaction.
Cladtek makes corrosion-resistant clad pipe primarily for the oil and gas sector.
The company’s founder will remain as a shareholder and continue to run the business with a focus on further expansion in the Middle East and South America.
Navis co-founding partner Rodney Muse said, “Cladtek is a young company which is currently undergoing tremendous growth. In the past three years, it has grown its revenue substantially to become a leading player in the pipe cladding business globally.
“As always, we will be assessing organic and inorganic growth opportunities to take the company into new markets.”
Navis’ other investments this year include buying Hong Kong-based paper and pulp process chemical solutions provider Amazon Papyrus Chemicals Group and oil and gas sector component maker Tri-Star Industries.
Navis manages around $5bn in equity capital and completed fundraising for its seventh Asia fund in February with at least $1.4bn in commitments from LPs.
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