Global Marine Systems has completed the acquisition of CWind, having purchased the remaining minority stake in the company in November.
A majority stake was taken by Global Marine in CWind in February.
CWind, which is now a wholly-owned subsidiary of Global Marine, said the acquisition bolsters its “growth plans as the two companies pool their extensive capabilities to provide a more comprehensive offering across the expanding offshore wind construction and maintenance market”.
The company added that the deal would allow it to offer a greater variety of subsea and topside services, and develop operations and maintenance capabilities.
CWind managing director Lee Andrews said: “CWind now has the backing and support of Global Marine, including the financial stability, that will enable us to take the next step in delivering larger and more complex projects.
“CWind has chartered a DP2 vessel to work in the German sector supported by our own CTVs and technicians, a first for the company delivering a work package of this magnitude.
“Without the backing of Global Marine this wouldn’t have been possible.”
Global Marine chief executive Ian Douglas said CWind would bring a second, multi-purpose DP2 vessel to the market in the UK’s northeast in the coming months.
Image: CWind
