Under our ownership, Advantec developed into a leading provider of subsea intervention equipment and associated life-of-field services for the global oil & gas industry. Back in 2010, when we invested, we were intrigued by the combination of a favourable industry outlook and a growing demand for Advantec’s services. Through a combination of geographical expansion, add-on acquisitions and the broadening of its life-of-field services (including establishing a fleet of rental units), Advantec has built a market-leading position. We sold Advantec to an industrial buyer in 2015.