Mainport Shipping is to receive a multi-million euro equity investment from growth fund MML Growth Capital Partners, which will see MML become a significant minority shareholder.
The money will initially be used to assist with the purchase of a newbuild survey support vessel, the Mainport Edge, at a cost of €16m.
While the remaining money will be used to fund the acquisition of further survey support vessels to service the rapidly expanding offshore wind sector.
"We are delighted with this investment from MML as it will allow us to buy more ships for the expanding offshore wind sector," said Dave Ronayne, Chief Executive of Mainport Holdings.
"Our target market is Europe, and we will return to Ireland with an experienced track record when Ireland needs our ships."
Mainport Shipping is a marine services business that charters survey support vessels to global geo data specialists in the international offshore energy sector.
It also offers towage services across various ports within the Shannon Estuary.
The investment is coming from the €145m MML Growth Capital Partners Ireland Fund II, which is backed by the Ireland Strategic Investment Fund, AIB and a number of international institutional investors.
The fund is focused on supporting small and medium sized private firms originating on the island of Ireland.
Mainport Shipping is part of Irish Mainport Holdings Ltd, which was founded in 1957 to provide ship chartering for imports into Ireland.
Since then the Cork headquartered company, which is owned by the Ronayne family, has evolved and offers ship chartering services all over the world.
"Irish Mainport Holdings and Mainport Shipping are strong businesses with proud heritages and exceptional reputations and are a great example of a successful multi-generational family business," said Shane Cooke who led the deal for MML.
"Dave Ronayne and the management team are passionate about the business and have a proven track record of delivering growth."
"We are delighted to be investing and partnering with them and are keen to invest further to allow this business to achieve its exciting potential".
