Maven Capital Partners has backed Aberdeen-based Fletcher Shipping through the Scottish Loan Fund.

The firm will invest £4m (€4.97m) upfront with an option to draw down a further £1m to fund the acquisition of a third platform support vessel (PSV).

Fletcher Shipping was established in 2007, and operates PSVs in the North Sea. These vessels support the offshore oil and gas industry by transporting everything an oil rig needs to function all year round including food, consumables and drilling equipment. 

The company has acquired second-hand PSVs at a fraction of the cost of newbuilds.