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Windtech International May June 2024 issue

 

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Spie (France) has announced the acquisition of 85% of Correll Group, a global player in engineering, installation, and maintenance services in the offshore wind sector.
 
The company, founded in 2014 and headquartered in Skelton (United Kingdom), deploys its expertise in the offshore wind sector all over the world, and particularly in Europe (Atlantic, Baltic, and North Sea), the United States, and Taiwan, with its 109 employees and more than 500 expert contractors. Correll Group is expected to generate revenue of c.55 million euros in 2023, accretive for Spie Oil & Gas Services. Spie will acquire 85% of the share capital upon completion, while the remaining 15% will be retained by the management team (with reciprocal call and put options). The acquisition will be financed with the existing financial resources of the group. Spie expects to complete the transaction in January 2024, subject to customary closing conditions.
 
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