Chelmsford-based Global Marine Group acquires Fugro trenching and cable lay business
- Credit: Archant
Essex-based offshore engineering company Global Marine Group (GMG) has completed the acquisition of the trenching and cable lay services business of Dutch multinational Fugro.
GMG, which is based in Chelmsford and also includes offshore support services company CWind, said that the deal – first agreed in October – would enable it to offer a more comprehensive and integrated range of services, and so complete additional packages of work.
The deal, which includes a facility in Aberdeen with a workforce of 23, will also see Fugro become a preferred provider of other key services to GMG.
Ian Douglas, GMG chief executive, said: “We believe this acquisition has two key benefits, meeting the needs of our customers while at the same time strengthening GMG’s market position in offshore power.
“I’m delighted to welcome on board such a well-respected group of people led by Mike Daniel, and I look forward to seeing the contribution they will make to the Global Marine Group over the coming months.”
Mike Daniel, manager of the trenching and cable lay services business, added, “We have an excellent track record in the offshore renewables and oil and gas sectors.
“As a team, we have been involved in the installation of more than 470 power cables, recently completing the installation of 122 cables at the Rampion Offshore Wind Farm.
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“We have also successfully completed the trenching of the export cable and inter array cables on the world’s first floating wind farm, Hywind Scotland, off the coast of Aberdeenshire, demonstrating our innovative industry leading approach.
“Moving forward, we will continue to support existing and new customers alike, utilising our skill set to support the wider business goals of Global Marine Group.”
GMG has been owned since 2014 by New York-based HC2 Holdings.