**Venterra Group Enhances Offshore Wind Services Capabilities through Strategic Acquisition**
Venterra Group Plc, a leading provider of offshore wind services, has significantly bolstered its capabilities in the burgeoning offshore wind sector by acquiring Oceanscan Holdings Limited. This strategic move underscores Venterra’s commitment to supporting the rapid expansion of the offshore wind industry.
Oceanscan Holdings, a company founded in 1989 by Ken Hunter, specializes in providing subsea and non-destructive test equipment, geotechnical services, and specialist personnel to the offshore energy market. The acquisition brings a high-caliber fleet of high-quality sensing equipment and extensive geotechnical expertise to Venterra’s portfolio, further solidifying its position as a comprehensive service provider in the offshore wind sector.
The integration of Oceanscan into Venterra’s already robust service lines, particularly within its Geoscience and Survey teams, is expected to enhance the company’s ability to offer technologically advanced and complete development services. This synergy will enable Venterra to provide more robust survey and geoscience services across a wider international market.
#### Key Highlights of the Acquisition:
1. **Enhanced Capabilities**: The acquisition aligns with Venterra’s strategic objectives to provide a wide array of development services and solutions to the offshore wind industry. Oceanscan’s expertise will reinforce Venterra’s position as a leading provider of survey services.
2. **Comprehensive Support**: By combining Oceanscan’s specialized equipment and geotechnical experience with Venterra’s existing expertise, clients can expect a more comprehensive support system throughout the wind farm lifecycle.
3. **Global Reach**: The acquisition opens up new possibilities for growth, especially in regions where offshore wind energy is gaining traction. This strategic move positions Venterra Group to expand its global reach and support the transition to clean energy on a larger scale.
4. **Financial Support**: The acquisition has been facilitated by a significant equity raise, including investments from General Atlantic’s BeyondNetZero and First Reserve. Additionally, Venterra secured access to £110m of bank facilities from HSBC, NatWest, Rabobank, and Citibank to support future growth initiatives.
#### Quotes from Key Executives:
– **Ed Daniels, CEO of Venterra Group**:
“Oceanscan’s extensive fleet of high-quality sensing equipment and in-depth geotechnical experience perfectly complement our ambitions in providing cutting-edge development services and solutions. We look forward to welcoming Oceanscan into our team and delivering enhanced value