Oceanteam Shipping has acquired the remaining 48% stake in fellow Dutch firm Oceanwind and is now the sole owner of Oceanwind Cable Storage & Handling Solutions.
As a result of the acquisition the company’s name will be changed to Oceanteam Cable Solutions, whereby it can now fully focus and grow its worldwide cable transport, handling and storage services under the Oceanteam umbrella and in close collaboration with Oceanteam’s other entities.
“In line with our strategy of further strengthening the company’s solutions segment we are investing in and optimising the end-to-end services we deliver to our client. This transaction, combined with the recently announced EUR15m revolving credit facility, provides us with the financial flexibility to execute on our business plan” said Lex van Doorn, the managing director of Oceanteam Cable Solutions.
Oceanteam has executed over 50 cable transport, handling and storage projects and currently offers facilities in Amsterdam, Delfzijl, Willemshaven, Dubai and South Korea and is expanding its network.