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Cieco Energy Service (UK) Ltd

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Year established

1992

Location

London UK

Primary Industry

Oil & Gas

About

Founded in 1992 and based in London, UK, Cieco Exploration and Production (UK) Limited is a wholly owned subsidiary of ITOCHU Corporation that explores and produces oil and gas. In November 2018, Verus Petroleum UK Limited, a portfolio company of HitecVision acquired Cieco Exploration and Production (UK) Limited from Itochu Corporation for NOK 3.3 billion. The company provides services such as the development of oil and petrol businesses in Europe, Africa, the Middle East, and the CIS, as well as developing its operations to develop an asset portfolio.
Current Investors
Verus Petroleum UK Limited

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Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Exploration and Production
Website
www.ciecoenergy.ltd
Company Stage
Add-on
Total Amount Raised
Subscriber access only

Financials

Fiscal Year Ended
Revenue (USD)
% Revenue Growth (YoY)
Operating Income (USD)
Operating Margin
EBITDA (USD)
% EBITDA Margin
NET Income (USD)
% Net Margin
31 Dec 2010
38,929,854
-
(3,986,504)
(10.2%)
(3,295,551)
(8.5%)
(12,437,149)
(31.9%)
31 Dec 2011
45,431,622
16.7%
31,934,937
70.3%
34,087,350
75%
11,939,314
26.3%
31 Dec 2012
41,050,284
(9.6%)
15,306,483
37.3%
20,633,716
50.3%
6,709,365
16.3%
31 Dec 2013
37,318,159
(9.1%)
12,063,858
32.3%
17,494,941
46.9%
5,678,306
15.2%
31 Dec 2014
25,847,014
(30.7%)
(27,754,652)
(107.4%)
2,271,704
8.8%
(934,051)
(3.6%)
31 Dec 2015
6,011,465
(76.7%)
(225,198,367)
(3746.1%)
(224,266,002)
(3730.6%)
(155,472,712)
(2586.3%)
31 Dec 2016
6,306,804
4.9%
(15,613,879)
(247.6%)
(13,471,408)
(213.6%)
(4,840,546)
(76.8%)
31 Dec 2017
11,482,635
82.1%
(692,129)
(6%)
5,687,829
49.5%
(41,057,283)
(357.6%)
31 Dec 2018
227,542,000
1881.6%
137,442,000
60.4%
195,714,000
86%
175,647,000
77.2%
31 Dec 2019
31 Dec 2020
31 Dec 2021

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Deals

Deals Type
Add-on
Deal Status Target (s) Deal Date Investor(s) Seller(s) Deal size (Mn) Enterprise value (Mn) Post-money valuation (Mn) EBITDA multiple (x) Revenue multiple (x) Lead partner (s)
Completed Cieco Energy Service (UK) Ltd 20 Sep 2018
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