CWind enters new chapter
Published: 11 October, 2023
CWind, a leading provider of offshore wind support services, has announced its acquisition by Inspirit Capital, a UK-based investment firm.
The company says the news marks the beginning of a new era for CWind, as it transforms into a stand-alone entity, no longer affiliated with Global Marine Group, a leading independent provider of submarine cable solutions.
With a shared vision for the future and a strong commitment to supporting the offshore wind industry, the acquisition positions CWind to accelerate its growth and enhance its services in response to the industry's evolving needs.
CWind completes approximately 60,000 crew transfers annually, utilising their fleet of 12 owned/operated crew transfer vessels (CTV), including the world’s first hybrid Surface Effect Ship CTV, CWind Pioneer. The company says it has played an integral role in the success of over 50 UK and European offshore wind farms since 2010.
In 2017, Global Marine Group acquired CWind, and the following year, established CWind Taiwan in partnership with International Ocean Group, a Taiwanese Offshore Wind services provider. In July 2023, International Ocean Group purchased Global Marine Group’s shares in CWind Taiwan to become sole owner.
Joe Browse, Managing Director at CWind commented: "CWind is embarking on an exciting journey with Inspirit Capital as our new owner. Our unwavering commitment to the offshore wind industry remains stronger than ever. This acquisition will enable us to enhance our offering, further explore innovative solutions for our clients, and continue supporting the growth of clean, sustainable energy generation.”
Paul Youens, Investment Manager at Inspirit Capital added: “We are delighted to be investing in CWind, a clear market leader in the offshore wind market. The business has a rich heritage and strong relationships with key operators in the sector. We are excited to back management’s vision to nurture and expand existing customer relationships, as well as deliver on the ambitious sustainability plans for the business.”
https://www.linkedin.com/company/cwind/
