OEG Offshore (OEG) sealed its second acquisition in a week with the purchase of Hughes Subsea Services (Hughes), an integrated subsea service company.
The deal comes after OEG’s successful debut at RenewableUK’s Global Offshore Wind event where it was announced that Lowestoft‐based Fern Communications had also been acquired by the fast-expanding group.
This latest deal strengthens Aberdeen‐based OEG’s package of critical products and services for the global energy space through the addition of Hughes expertise and reputation in subsea services while providing access to growth capital and investment for Hughes to expand.
It is the third offshore-wind focused acquisition this year for OEG, which bought offshore welfare ‘gamechanger’ Pegasus Welfare Solutions (PWS) in April with its world-first in‐turbine tower toilet and differentiated range of offshore modular welfare units.
More acquisitions are planned as OEG drives a growth strategy to bring together complementary expertise in niche specialist services, specified for the marine environment across the global energy sector.
Each business line has the support of OEG for investment and internationalisation, through access to its facilities across more than 60 countries around the world.
Liverpool‐based Hughes, which employs 19 people, will retain its name, and its founder, Ian Hughes, will continue to be its managing director and lead Hughes’ further growth and development with the support of the wider OEG group.