Deal

FRP advises on strategic sale for Stowen Group

STAR Windco acquires Stowen Group Limited, Stowen Clean Energy Limited and Hexis Training Limited.

We are pleased to have completed the sale of Stowen Group (Stowen), comprising Stowen Group Limited, Stowen Clean Energy Limited and Hexis Training Limited, to STAR Windco Limited, the parent company of leading wind turbine installation contractors, Windhoist.

Founded in 2014, Stowen is a specialist provider of operational and maintenance services to the offshore wind, marine and oil and gas sectors. The business has a strong reputation in the offshore wind turbine inspection and maintenance market, with a highly skilled team that offers high quality services.

Backed by leading European private equity firm STAR Capital Partnership LLP, Windhoist is the largest wind turbine installation contractor in the UK, with an increasing market share in mainland Europe and beyond. The transaction includes the acquisition of two separate trading business streams within Stowen – Stowen Group Limited, which provides technical solutions to the oil and gas markets, and Stowen Clean Energy Limited, a leading supplier within the offshore renewable sector.

The acquisition of Stowen will further accelerate Windhoist’s existing capabilities and will enable STAR Windco to offer a broader services platform across both the onshore and offshore segments.

Our Corporate Finance team, led by Partner Jon Dodge and supported by Manager Alex Hunton, was appointed as the lead adviser to run a competitive sale process for the owners of Stowen and this transaction is one of several recent deals the team has advised on in the energy space.

Commenting on the transaction, Jon Dodge, Partner at FRP Corporate Finance, said: “We are very pleased to have secured a sale of Stowen to STAR Windco. The deal represents an exciting new era for Stowen and will bring significant operational benefits to Windhoist. The enlarged group is now in an excellent position to accelerate its future growth, and we are thrilled to have achieved a fantastic deal for the shareholders.”

Mathew Owen, Managing Director at Stowen, added: “We are delighted to have chosen Star WindCo as an investment partner and look forward to working with Windhoist in continuing our exciting growth trajectory. FRP did a fantastic job in guiding us on every step of the transaction through to completion, providing effective advice on all of the commercial and financial aspects of the deal, and invaluable support throughout the whole process. We could not have had better lead advisers.”

The deal represents an exciting new era for Stowen and brings instant scale and significant operational benefits to Windhoist. The enlarged group is now in an excellent position to accelerate its future growth. Jon Dodge Corporate Finance

Related team

Jon Dodge

Jon Dodge

  • Partner
  • Corporate Finance, Forensic Services
  • Norwich

Alex Hunton

Alex Hunton

  • Manager
  • Corporate Finance
  • Norwich