KKR pours cash into oil rig firm

PRIVATE equity group KKR is pumping cash into OEG Offshore Group, a Scottish oil rig equipment supplier.

KKR has paid an undisclosed sum for a majority stake in OEG, whose management will keep a “significant” holding after the deal.

OEG boss John Heiton said the Aberdeen-based cargo unit firm will use the cash to grow organically and through acquisitions.