Global Marine Systems Limited has acquired a majority interest in CWind Limited.
CWind has supported the construction and operation of over 26 wind farms in the North Sea, Irish Sea and the Baltic. In 2014, the company opened an office based in Bremen, Germany.
Ian Douglas , CEO of Global Marine, said: “I strongly believe the acquisition of CWind demonstrates our commitment to both growth and the offshore renewables market. We recognise the need for greater efficiency and lower costs for our customers and will continue to position ourselves to address the evolving needs of new and existing offshore windfarms and the challenges as we move further offshore.”
Chris Randle , CEO of CWind, said: “We share a vision for the long-term sustainable growth of the business in the offshore wind and renewables sector. Global Marine has over 165 years of subsea experience and that, combined with CWind’s integrated service offering, means we can provide unparalleled value for our clients in construction and O&M, positioning the company to fully exploit the opportunities in front of us.”
In its last financial year finishing 30 September 2015, CWind had total annual revenues of £26 million. Global Marine reported revenues of £88.9 million during the same period.