OEG to acquire Bluestream Offshore

OEG Energy Group, a leading offshore solutions business, has signed a Sale and Purchase Agreement to acquire Bluestream Offshore B.V, 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.

The acquisition will increase OEG’s subsea and topside capabilities while expanding its operating footprint to be able to pursue further opportunities in the growing offshore renewables industry in Mainland Europe through Bluestream’s existing strong reputation. This is the fifth acquisition to be made this year, and the eleventh since OEG began growing OEG Renewables in 2020, demonstrating the ambition to rapidly build a market leader well positioned to capitalise on the long-term opportunities in the sector.

Bluestream is a highly respected and recognised brand which has established itself supporting offshore projects with major operators in the Southern North Sea with an increasingly prominent role in the offshore renewables sector.

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 globalfootprint 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 chainfor 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.”

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