French engineering group SPIE has sealed a deal to take over UK-based offshore wind engineering, installation, and maintenance firm Correll Group.
Correll stands out for its expertise in the connection and testing of submarine high-voltage cables for the interconnection of wind farms. The company, founded in 2014 and headquartered in Skelton, deploys its expertise in the offshore wind sector worldwide, particularly in Europe, the US and Taiwan.
SPIE will acquire 85% of the share capital upon completion, while the management team will retain the remaining 15%.
The company said this acquisition represents a major step in its diversification strategy of SPIE Oil & Gas Services towards renewable energies implemented several years ago to support its customers in their energy transition. Since 2020, SPIE has won several significant contracts in the French offshore wind sector, including two related to the Fécamp and Courseulles-sur-Mer offshore wind farms. In the Middle East, SPIE Oil & Gas Services also provides maintenance services on photovoltaic installations to TotalEnergies Renewables Distributed Generation in Dubai.
Christophe Bernhart, managing director of SPIE Oil & Gas Services, said: “The acquisition of Correll Group is a significant milestone for SPIE Oil & Gas Services and its diversification strategy towards renewable energies, in addition to the emblematic contracts previously signed by the Group in the offshore wind sector. Our new name, SPIE Global Services Energy, perfectly highlights this strategic focus and demonstrates the Group’s commitment and determination to take a leading role in the global transition towards low-carbon energy.”
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Sam Dowey, managing director of Corell Group, said: “The offshore wind sector is expected to grow substantially over the coming years and by joining SPIE we will be able to become a partner of choice for our customers.”
SPIE Oil & Gas Services will become SPIE Global Services Energy as of January 2024 when the transaction is expected to complete.