Press release -
“We have bought the industry’s best”
ESVAGT’s new owners will continue the current direction of the company and strengthen ESVAGT’s position as industry leader.
It will be business as usual for ESVAGT even though the A.P. Møller-Mærsk group and ESE-Holding have sold their shares in ESVAGT to 3i Infrastructure and AMP Capital.
The message is clear from both sides of the new joint ownership: We have bought a strong, well-run company with an exciting future ahead.
“The research we undertook before buying the company and much of the feedback we received showed that buying ESVAGT would be buying a best in class operator,” says Ben Loomes, Managing Partner in 3i Infrastructure:
“We are confident to see ESVAGT continue in the direction that has been set by the management team and maintain the current strategy,” he says.
Simon Ellis, Head of Origination with AMP Capital Infrastructure, also sees ESVAGT as a well-run company that he hopes can be strengthened further:
"We have purchased a world class company, with proven operational expertise. As owners, we have significant experience in both the oil and gas and wind sectors and believe we can use this experience and competencies developed to help develop ESVAGT even more,” he says.
Continued development in wind
Both new owners expect that the North Sea will continue to be ESVAGT’s primary market in the coming years: both in their current support and standby operations for the oil and gas industry and in the further development of the offshore wind energy market. AMP Capital and 3i both have experience with wind energy within their portfolios and both have expressed their happiness to continue working with, for example, offshore wind energy.
“ESVAGT has shown that it is capable of developing innovative solutions and concepts that set the standard for offshore wind energy,” says Scott Moseley, Partner of 3i Infrastructure:
“We wish both to continue to develop the market within the oil and gas industry and at the same time have confidence in the further development of offshore wind energy. Our ambition is for ESVAGT to continue to set the standard for the industry’s development,” he explains.
The A.P. Møller-Mærsk group and ESE-Holding entered into an agreement to sell their shares in ESVAGT on the 7th of July to the investment companies, 3i Infrastructure and AMP Capital. The new owners have 50/50 ownership.
ABOUT 3I INFRASTRUCTURE PLC
3i Infrastructure plc is a long-term investor in infrastructure businesses and assets. The Company’s market focus is on core economic infrastructure in developed economies, principally in Europe, in the utilities, transportation and energy sectors, investing in operational businesses which generate long-term yield and capital growth.
ABOUT AMP CAPITAL
AMP Capital is one of the most experienced global infrastructure managers with more than 25 years’ experience and having made over 120 infrastructure equity and debt investments globally and today manages unlisted and listed infrastructure investments in Asia, Europe, North America, Australia and New Zealand.
ESVAGT is a dedicated provider of safety and support at sea, founded on an experienced and well-trained offshore crew and unmatched rescue capabilities.
We support the offshore Oil & Gas industries with a wide range of specialized services: Standby, Emergency Response and Resque Vessels (ERRV), Oil spill response, Firefighting, Tanker assists, Rig moves, Supply services and Interfield transfer of cargo and personnel.
In 2010, ESVAGT brought the dedicated offshore wind Service Operation Vessels (SOV) to the market. The SOVs provide accommodation for up to 40 technicians, storage for small turbine parts and a workshop, plus personnel and equipment transfer capabilities by either Walk-to-Work gangway system or Safe Transfer Boats.
ESVAGT was founded in 1981 and has a fleet of more than 40 vessels and more than 900 employees on- and offshore.