Oceanteam names new CEO and drops merger with Passer

Oceanteam has appointed its board member Hans Reinigert to lead and manage the company and decided not to move forward with the acquisition of cable handling solutions company Passer Group as the final agreement on the underlying economics could not be reached.

Reinigert will resign as a board member and take up the position of CEO, thereby replacing Henk Hazenoot, effective November 1, 2021.  To ensure a proper hand-over, Hazenoot will remain with the company until January 1, 2022.

Hans Reinigert stated: “Having been closely involved in the restructuring of the company, which led to the divestment of our shipping assets, a clean balance sheet and ample liquidity, the task at hand is to identify the best way forward for Oceanteam. For this, we have time, and we will carefully evaluate any new propositions with an open mind and in the knowledge that the transition to a new economy is bringing about numerous interesting opportunities that should create value for our shareholders.”

The deal with Passer was part of Oceanteam’s plan to focus its strategy going forward on the renewable and energy transition markets. It was envisioned that Oceanteam would acquire Passer in an all-share deal, with the intention being to finalise the deal by the end of the second quarter.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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