Infracapital has acquired a majority stake in Farra Marine to support offshore wind vessel growth in Europe.
Infracapital said Farra Marine is an owner and operator of crew transfer vessels serving the European offshore wind market.
It added that the Ireland-headquartered company operates a fleet of 15 BV class-approved vessels across markets including the UK, Germany, France, Denmark and the Baltics.
The vessels transport technicians, engineers and equipment to offshore wind farms during construction, operation and maintenance phases.
Infracapital intends to provide capital to support the continued expansion of Farra Marine’s fleet.
The company said Europe’s offshore wind market is expected to see significant capacity growth, increasing demand for high-quality crew transfer vessels.
Farra Marine was founded in 2020 by Martin Rice and counts Siemens Gamesa, Vestas, Ørsted and ScottishPower Renewables among its clients.
The investment is being made through Infracapital Partners IV.
“When I founded Farra Marine in 2020, the ambition was to build the most modern, capable CTV fleet in Europe and deliver a standard of service that the offshore wind sector deserved,” said Martin Rice, chief executive and founder of Farra Marine.
“This is a landmark moment for Farra Marine.”
“We are pleased to partner with the team at Farra Marine at a time of strong demand for high-quality vessels to support services in offshore wind,” said Herman Deetman, managing director at Infracapital.
“The team has built a best-in-class operator trusted by leading clients across the sector and we look forward to supporting the business through its next phase of growth.”