A Texas-based investment fund that helped usher GulfMark Offshore out of bankruptcy is now a major equity holder following the company's restructuring.

Q Investments reported a 16.6% stake in the offshore vessel owner, comprised of 1.17 million shares.

Q Investments acquired the shares through swapping out $41.8m in claims on unsecured notes owed by GulfMark. It also $15.5m in a rights offering for GulfMark shares.