Acquiring Alpha Offshore Pays Off for Sparrows Group
Alpha Offshore Service’s revenue has increased by 46% in the past 12 months, according to its parent company Sparrows Group, which said that its position in the renewables market strengthened one year on from the acquisition of the Danish company.
In September, Alpha Offshore reported that it carried out more than 4,000 wind turbine blade inspections in 2018, a 56% increase compared to 2017. The rise was mostly due to Alpha Offshore now doing business under the umbrella of Sparrows Group, along with offshore wind sector’s progress and demand for the company’s services, Alpha’s CEO Mikkel Lund told Offshore WIND in September.
Sparrows Group has been active in the oil and gas sector for more than 40 years, and later grew its presence in the renewables sector as well, following implementation of a diversification strategy over the past few years.
Stewart Mitchell, CEO of Sparrows Group said: “Alpha has been a valuable addition to the Group and has boosted our footprint in the renewables market. The acquisition has been welcomed by Sparrows employees and provided our people with the opportunity to diversify their skills and knowledge.
“The Alpha team has integrated well, primarily because of our shared values and commitment to safety and quality. Joining forces so successfully has led to Sparrows exploring further acquisition opportunities in the renewable sector to add to our portfolio.”
Since Sparrows acquired the firm in December 2017, Alpha has seen its international offering grow to support clients in new geographic areas including Australia and Asia Pacific, the parent company said. The expansion of its global operations has also resulted in a 25% increase in their workforce of highly trained technicians.
Mikkel Lund, CEO of Alpha Offshore said: “Moving forward, our biggest challenge is ensuring we can continue to recruit and train talent that is a strong fit for our business. Ensuring the competence of our technicians is vital to our success and Sparrows has been instrumental in supporting this objective.”
Alpha Offshore expects to hit a new milestone next year with 5,400 blade inspections already scheduled for Northern European projects alone, and this is not the final number as the company anticipates signing further contracts by May 2019 (the start of the operations season).
Offshore WIND Staff