General – Sale and Purchase
OEG Energy Group, a leading offshore solutions business, has signed a Sale and Purchase Agreement (SPA) to acquire Bluestream Offshore, a specialist in subsea and topside services based in the Netherlands for an undisclosed consideration.
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 55 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 in-house 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.
John Heiton, OEG’s Chief Executive Officer said: “We are delighted to welcome Bluestream Offshore to the OEG Group. This value-accretive and strategically complementary acquisition will further strengthen OEG’s service offering and operating footprint in the growing European offshore energy market. 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.”
Rolf de Vries, Managing Director of Bluestream said: “Becoming part of OEG Group and leveraging its global footprint will help Bluestream increase the value proposition to the offshore energy market. Both OEG and Bluestream share the same values and commitment to provide the highest quality services possible with the health and safety of our colleagues, clients and environment as a core priority. OEG has done a great job of establishing itself as a valued partner in the supply chain for offshore wind, and this merger will further enhance that status and open up new opportunities for the Group within the growing European offshore renewables industry.”