Partners Group is injecting additional capital into North Star to help the UK-based offshore infrastructure services provider expand its service operation vessel (SOV) fleet.
Partners Group said its portfolio company North Star has acquired four new vessels from Edda Wind, in a deal that lifts the offshore infrastructure specialist’s SOV fleet to 14. The transaction complements its existing fleet of 37 emergency response and rescue vessels.
North Star, which was acquired by Partners Group in early 2022, provides essential maintenance and emergency response services to the energy sector.
Gitte Gard Talmo, CEO, North Star, said: “Finalising this four-vessel transaction marks another step forward for North Star in offshore wind. Bringing these SOVs into our fleet broadens our customer offering, strengthens our platform, and reinforces our presence in key European markets.
“It also underlines our leadership in the region’s SOV sector and provides a strong foundation for the next phase of expansion across the business.”
Kevin Gilhawley, member of management, infrastructure, Partners Group, said: “We are very proud of the growth North Star has delivered since our investment, with this latest acquisition adding meaningful scale to the company’s fast-growing SOV fleet.
“The long-term SOV market is supported by compelling structural growth drivers, including a growing offshore wind asset base, the location of assets further from shore, rising uptime requirements, and a rationalising supply chain. North Star is well positioned to capture future market growth.”
Esther Peiner, partner, global head of infrastructure, Partners Group, said: “North Star is a great example of our infrastructure platform building strategy.
“The company, alongside our portfolio companies Exus Renewables and green flexibility, as well as previous investments VSB Group and Greenlink Interconnector, is also making an important contribution to enhancing European energy independence and security.”
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