OEG Energy Group Limited, a leading offshore solutions business, has signed a Sale and Purchase Agreement to acquire Bluestream Offshore B.V a specialist in subsea and topside services based in The Netherlands for an undisclosed consideration, according to the company's release.
Bluestream, headquartered in Den Helder in The Netherlands is an offshore contractor providing specialist technical services above and below the waterline to a roster of blue-chip clients within the energy sectors. Bluestream has a turnover in excess of €55 million executed through an employee base of c55 people and more than 300 offshore subsea and topside specialists. They are highly skilled in surface supplied diving, Remotely Operated Vehicles (ROVs), working at height, rope access and Unmanned Aerial Vehicles (UAV) providing clients with tailored solutions during the installation, maintenance and decommissioning of their offshore assets. In addition Bluestream has an inhouse research and development department, aiming to continually increase the quality of its services most recently focusing on developing innovative and cost saving solutions for the renewable industry.
The acquisition will increase OEG’s subsea and topside capabilities while expanding its operating footprint to be able to pursue further opportunities in the growing offshore renewables industry in Mainland Europe through Bluestream's existing strong reputation
This is the fifth acquisition to be made this year, and the eleventh since OEG began growing OEG Renewables in 2020.
Transaction expected to close in late Q4’23 subject to receipt of regulatory approvals.