UK's Inspirit Capital has finalized its acquisition of CWind, a leading provider of marine services to the offshore wind sector, the companies said in a joint statement today.
CWind, which had formerly been under the umbrella of the Global Marine Group, will operate as an independent firm subsequent to this transaction.
This strategic move places CWind in a favourable position to fast-track its expansion and adapt its services, aiming to address the rapidly shifting dynamics of the offshore wind sector. The firm prides itself on managing approximately 60,000 crew transfers yearly with its 12 owned and operated crew transfer vessels. Among its fleet is the groundbreaking CWind Pioneer, renowned as the first hybrid surface effect ship crew transfer vessel on the globe.
Since its inception in 2010, CWind has significantly contributed to over 50 offshore wind projects across the UK and Europe. A noteworthy turn in its trajectory occurred in 2017 when Global Marine Group acquired it. In a bid to fortify its Asian presence, CWind Taiwan was launched the following year in collaboration with the Taiwanese offshore wind service entity, International Ocean Group. However, as of July 2023, International Ocean Group procured all shares of CWind Taiwan from Global Marine Group, becoming its sole proprietor.
Joe Browse, the Managing Director of CWind, expressed enthusiasm about the company's future under Inspirit Capital's ownership. “Our profound dedication to the offshore wind industry remains resolute,” he said. “With Inspirit Capital by our side, we are poised to augment our services, delve deeper into groundbreaking solutions, and ardently support the surge of green, sustainable energy.”
Echoing a similar sentiment, Paul Youens, Investment Manager at Inspirit Capital, conveyed, “Investing in CWind, a clear frontrunner in the offshore wind domain, brings immense pride. Recognizing its illustrious history and its profound ties with pivotal operators, we are keen to foster existing partnerships and actively contribute to the company's robust sustainability roadmap.”
