Fri, 13 Oct 2023 | BUSINESS SALE
CWind, a Grimsby-based offshore wind support services provider, has been acquired by London-based investment firm Inspirit Capital. CWind, which was part of the Chelmsford-based offshore engineering company Global Marine Group, will become a standalone entity following the acquisition.
CWind completes approximately 60,000 crew transfers per year with its fleet of 12 owned and operated crew transfer vessels (CTVs) - which includes a hybrid Surface Effect Ship CTV – and has supported the development of 50 offshore wind farms in the UK and Europe since 2010.
Inspirit Capital specialises in the acquisition of businesses that are no longer a core part of their parent company’s strategic objectives and are seeking a different ownership structure in order to realise their growth potential.
The investment firm said that the acquisition of CWind would enable it to accelerate its growth and expand its services amid the evolving needs of the offshore wind industry. Inspirit Capital Investment Manager Paul Youens called CWind “a clear market leader in the offshore wind market” and said that the deal “further demonstrates Inspirit's capacity to deliver corporate carve-outs.”
Youens continued: "The business has a rich heritage and strong relationships with key operators in the sector. We are excited to back management's vision to nurture and expand existing customer relationships, as well as deliver on the ambitious sustainability plans for the business."
CWind Managing Director Joe Browse added: "CWind is embarking on an exciting journey with Inspirit Capital as our new owner. Our unwavering commitment to the offshore wind industry remains stronger than ever.”
"This acquisition will enable us to enhance our offering, further explore innovative solutions for our clients, and continue supporting the growth of clean, sustainable energy generation."
ESG has become a vital consideration in how buyers such as private equity and investment firm deploy their funds and a strong correlation has been demonstrated between ESG credentials and higher company valuations.
Find out more about the growing role of ESG in M&A activity in this dedicated insight
For 25+ years, the business has been supplying, installing, and servicing compressed air systems for a wide range of business applications. Members of the British Compressed Air Society, registered to ISO9001 and Safe Contractor approved.
This is an opportunity to acquire a well-established engineering business with over 40 years of experience in a niche market sector. The company offers expert solutions both onsite and online for any issue related to pipelines that are currently in s...
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.