Offshore wind services provider Venterra has agreed to acquire CAPE Holland, the developer of a solution for installing monopiles to support turbines up to 20MW.
The acquisition is expected to complete in the next several weeks.
Headquartered in Beilen, the Netherlands, CAPE Holland was founded in 2002 to commercialise its range of Vibro Lifting Tools to handle and drive piled foundations into the seafloor.
The company employs over 60 people and its fleet of Vibro Lifting Tools is deployed worldwide on behalf of developers and tier one contractors.
Previously, in 2019 CAPE Holland welcomed a strategic investment of Cape Investment Partners.
Venterra is building a service offering across the wind farm lifecycle.
CAPE Holland chief executive Laurens de Neef said; ‘We are proud of the innovation that has driven our growth in offshore wind. Joining Venterra will enable continued investment in foundation installation in deeper waters and the ability to support larger turbines up to 18MW to 20MW.”
Venterra has also revealed BeyondNetZero, a companion fund for General Atlantic’s climate investing efforts, will become the lead investor in Venterra’s fourth fundraising round.
Venterra will raise approximately £150m through this latest round, comprised of equity financing from BeyondNetZero and existing investors including First Reserve, as well as debt financing facilities.
Venterra plans to use this round of funding to secure and finance acquisitions in the company’s deal pipeline and to invest in existing and future Venterra member companies.
Upon completion of the current funding round, chairman of climate & sustainability investing at General Atlantic Lord Browne will be appointed as non-executive director of Venterra.
His previous roles include group chief executive of BP from 1995 to 2007 and co-head of Riverstone’s renewable energy private equity fund from 2007 to 2015.
In other news Venterra has also appointed Tjada D’Oyen McKenna to its board as non-executive director with effect from 1 September 2023.
D’Oyen McKenna is chief executive of Mercy Corps, a leading humanitarian relief organization operating around the world, and previously she was chief operating officer of Habitat for Humanity and CARE.