Aberdeen-based offshore contractor OEG Energy has stuck a deal to buy Dutch subsea and topside services specialist Bluestream Offshore for an undisclosed sum.
The acquisition is expected to increase OEG’s capabilities while expanding its operating footprint to be able to pursue further opportunities in the growing offshore renewables industry in Europe.
Bluestream has a turnover of over €55m ($60m) executed through an employee base of around 55 people and more than 300 offshore subsea and topside specialists.
The Den Helder-based offshore contractor will retain its brand and operate as a subsidiary within OEG Renewables, expanding the division’s workforce to over 500 people.
The transaction is expected to close in the late fourth quarter of this year. It is the fifth acquisition to be made this year, and the eleventh since OEG began growing OEG Renewables in 2020.
“This is in line with our strategy to make value enhancing acquisitions to position OEG as the leader in the provision of mission-critical services and solutions supporting the energy transition,” said John Heiton, OEG’s CEO.
