French company SPIE has revealed its intention to acquire Correll Group, a UK-based offshore wind engineering, installation, and maintenance services company. Founded in 2014 and headquartered in Skelton, Correll Group is recognized for its expertise in the connection and testing of submarine high-voltage cables for interconnecting wind farms, according to SPIE.
Correll Group's notable presence in the offshore wind sector spans global operations, with a focus on regions such as Europe (Atlantic, Baltic, and North Sea), the United States, and Taiwan.
SPIE plans to acquire 85 percent of the share capital upon completion of the transaction, with the remaining 15 percent retained by the management team. The expected completion date is January 2024, subject to customary closing conditions.
SPIE, having secured multiple contracts in the French offshore wind sector since 2020, views this acquisition as a significant step in its diversification strategy.
The move aligns with SPIE Oil & Gas Services' transition to SPIE Global Services Energy in January 2024 and reflects the company's commitment to supporting customers in their energy transition by expanding into the renewable energy sector.
