OEG Energy Group has signed a sale and purchase agreement to acquire Netherlands-based Bluestream Offshore, a subsea and topside services specialist, for an undisclosed amount.
Bluestream provides specialist technical services above and below the waterline to clients within the energy sectors. The company employs more than 300 offshore subsea and topside specialists, skilled in surface supplied diving, remotely operated vehicles, working at height, rope access and unmanned aerial vehicles.
This is OEG’s fifth acquisition this year and eleventh since OEG Renewables began growing in 2020. Bluestream will retain its established brand and operate as a subsidiary within OEG Renewables. The transaction is expected to close later this year, subject to regulatory approvals.
“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,” says John Heiton, OEG’s CEO.
“Becoming part of OEG Group and leveraging its global footprint will help Bluestream increase the value proposition to the offshore energy market,” adds Bluestream’s Rolf de Vries.
“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.”