UK-based offshore equipment provider OEG Offshore has acquired Hughes Subsea Services (Hughes), an integrated subsea service company.
This is OEG Offshore's second acquisition in a little over a week, when it bought Fern Communications.
Hughes delivers an integrated range of services to the offshore renewable energy, oil and gas telecommunications, power generation and marine civil engineering sectors, with a greater focus on UXO and boulder clearance, diving and cable route clearance as wind farms have moved further out at sea in deeper water.
This is the third offshore-wind focused acquisition this year for OEG, which bought Pegasus Welfare Solutions (PWS) in April, a company behind the world-first in‐turbine tower toilet and differentiated range of offshore modular welfare units.
"More acquisitions are planned as OEG drives a growth strategy to bring together complementary expertise in niche specialist services, specified for the marine environment across the global energy sector," OEG Offshore said.
Liverpool‐based Hughes, which employs 19 people, will retain its name, and its founder, Ian Hughes, will continue to be its managing director and lead Hughes’ further growth and development with the support of the wider OEG group.
OEG head of renewables Dan Greeves said:"Our strategy is to acquire small and medium-sized businesses and support their growth with the OEG experience, framework, processes, and security to be able to tender for ever-larger projects. It also brings niche expertise together to deliver a range of services for our clients in one package.”
Hughes was the perfect fit for OEG’s vision to be part of projects across the “full scenario” of offshore work and capitalize on the global growth of offshore wind, in which it has been active since its first offshore wind project in 2006 working on Lynn & Inner Dowsing Offshore Wind Farm, OEG Offshore said.