Infracapital, the infrastructure private equity investment arm of M&G, is to take a majority stake in Farra Marine, the Irish-owned operator of crew transfer vessels (CTVs) for the European offshore wind sector.
The investment will be made via Infracapital Partners IV and follows the fund’s agreement in March to acquire Polish bus operator ReloBus, Infracapital said in a statement.
The move highlighted its continued deployment of capital into essential infrastructure supporting Europe’s lower-carbon transport transition, the firm said, adding that it intended to support Farra Marine with capital to enable the continued expansion of the Ireland-headquartered company’s modern fleet.
Europe’s offshore wind market is expected to see significant capacity growth, supporting increased demand for high-quality CTVs, Infracapital noted.
Martin Rice, CEO and founder of Farra Marine, said: “This is a landmark moment for Farra Marine. Partnering with Infracapital gives us the capital, the expertise and long-term support to continue executing that vision and build on the strong platform we have established.”
Herman Deetman, managing director at Infracapital, said that the firm was partnering with Farra Marine at “a time of strong demand for high-quality vessels to support services in offshore wind.
“The team has built a best-in-class operator trusted by leading clients across the sector and we look forward to supporting the business through its next phase of growth,” Deetman added.
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