Corporate Finance

FRP leads on sale of energy specialist Stowen

Corporate Finance team advise on acquisition by STAR Windco

Description

Founded in 2014, the Stowen Group is a specialist provider of operational and maintenance services to the offshore wind, marine and oil and gas sectors. The Group, which consists of Stowen Limited, Stowen Clean Energy Limited and Hexis Training Limited, has a strong reputation in the offshore energy sector, with a highly skilled team offering high-quality services. Stowen Clean Energy focuses on the renewable energy market, with core operations in the servicing, inspection and maintenance of offshore wind farms, while Stowen Limited is an innovative provider of technical solutions to the oil and gas industry. Stowen Clean Energy was growing at a fast pace, and the company’s management team wanted to further enhance this growth by partnering with a new investor in the renewables industry to assist them with future development.

Action

The Stowen Group appointed FRP as lead advisors to run a competitive process for the sale of the business. Our Corporate Finance team created an information memorandum on the Group, using industry knowledge to compile a list of potential buyers, before leading a competitive process to arrive at the preferred bidder. The team negotiated heads of terms, managed the whole diligence process, and assisted with the legal and commercial negotiations through to a successful completion of the transaction.

Outcome

The Stowen Group was sold to STAR Windco Limited, a subsidiary of European private equity firm STAR Capital Partnership LLP, which is also the parent company of Windhoist – the largest wind turbine installation contractor in the UK, with an increasing market share in mainland Europe and beyond. The acquisition of Stowen (the firm’s second investment into the renewable energy space) will further accelerate Windhoist’s existing capabilities and will enable STAR Windco to offer a broader services platform across both the onshore and offshore energy segments.

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 energy segments. Jon Dodge Corporate Finance

Related team

Jon Dodge

Jon Dodge

  • Partner
  • Corporate Finance, Forensic Services
  • Norwich

Alex Hunton

Alex Hunton

  • Associate Director
  • Corporate Finance
  • Norwich