General – acquisition
The Livingston-headquartered company, which employs around 50 people, provides structural grouting services for energy construction. It also has a base in Houston, Texas.
With a history stretching back more than 55 years, FoundOcean has developed into the world’s largest dedicated offshore construction grouting company. It has safely and successfully delivered more grouted connections than any other contractor – from the North Sea to the Gulf of Mexico and the Gulf of Thailand.
Led by executive chairman and former Petrofac CEO, Ayman Asfari, Venterra Group aims to create a ‘global services champion’ to meet demand and accelerate growth in the offshore wind sector.
The expertise of its member companies covers the entire windfarm lifecycle, from planning and development, installation and build, through to operations, maintenance and lifetime extension. With renewables expected to provide 90% of the growth in global electricity demand, offshore wind power is set to increase seven-fold, from 33 GW in 2020 to around 250 GW by 2030.
Jim Bell, managing director of FoundOcean, joined the company in 2005. He said: “Venterra absolutely shares our vision at FoundOcean, helping the world’s energy transition through wind power. This is a fantastic opportunity for everyone involved and we very much look forward to working with the other member companies. Together, we will have a strong presence in the renewables sector with our excellent services offering.
Established in 1966, FoundOcean is a dedicated offshore construction grouting company. The company’s primary area of expertise lies in securing structures to the seabed by foundation grouting, including multiple installations for offshore wind farms.