General – Acquisition
UK-headquartered Centurion Group, a company that provides critical rentals and services to the oil and gas, infrastructure, power, environmental, and renewable energy industries, has acquired H2M Offshore Accommodations.
Based in the Netherlands, with a location in Denmark, H2M is a supplier of offshore accommodation and workspace modules to the offshore wind sector, on a rental and sales basis.
As part of a strategy to establish itself as a leader in the global energy, infrastructure, power, mineral resourcing, food and drink and health industries, Centurion has completed five acquisitions during 2023, increasing statutory forecast revenue and earnings for 2023 by around $25m and $10m, respectively, to about $745m and $146m.
Fernando Assing, chief executive of Centurion, commented: “H2M’s product offering is complementary to our accommodation and modular business line, allowing us to better serve our customers with an expanded and diverse range of premium modular solutions. Critically, this acquisition aligns with our ambition to grow our presence in the European renewable energy sector, with H2M having a long and established track record within Europe’s offshore wind projects.”
Edwin van Zuijlen, managing director of H2M, added: “Joining a global group like Centurion, with access to capital will allow us to grow our rental fleet and infrastructure to serve our existing customers with a broader range accommodation solutions, and enable us to grow in line with our strategic ambitions.”