General – Acquisition
Apollo announced that funds managed by Apollo affiliates have agreed to acquire a majority stake in OEG Energy Group.
The transaction implies a headline valuation of over $1 billion for OEG.
OEG is a scaled provider of core services across the offshore energy ecosystem, delivering development and operations solutions to oil & gas (O&G) and wind end markets for more than 50 years.
John Heiton, CEO of OEG, said: “Since our company’s founding, we have worked hard to establish OEG as a global leader in delivering core services throughout the offshore energy value chain. As energy producers across Europe and around the globe continue to invest in energy transition, we are committed to expanding and enhancing our capabilities as a key partner. We look forward to working with Apollo as we enter this new and exciting chapter for our business and remain focused on supporting our customers with the same quality service they have come to expect.”
The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close in Q2 2025.
