OEG finalizes Hughes Subsea Services purchase
OEG Offshore has completed the acquisition of Hughes Subsea Services, marking the company’s third offshore wind-focused purchase for this year.
Liverpool‐based Hughes will retain its distinct name and its founder Ian Hughes will continue to be the managing director.
“Being part of OEG means we will be able to expand to the rest of the world, not only just growing in renewables but also oil and gas and decommissioning projects,” said Ian Hughes.
“The Asia Pacific region is a target for expansion, and OEG’s Aberdeen and Great Yarmouth bases offer Hughes a new presence in Scotland and on England’s active east coast.”
OEG recently acquired Pegasus Welfare Solutions and Fern Communications. The company said it is planning more acquisitions as it aims to bring together complementary expertise in niche specialist services, specified for the marine environment across the energy sector.
The U.S. and Taiwan are said to be key to OEG’s internationalization strategy.
“Our strategy is to acquire small and medium-sized businesses and support their growth with the OEG experience, framework, processes, and security to be able to tender for ever larger projects. It also brings niche expertise together to deliver a range of services for our clients in one package,” said OEG head of renewables Dan Greeves.