CWind Sails to New Horizons with AES Group Acquisition
Deal News | Jan 08, 2025 | Inspirit Capital
Inspirit Capital has successfully sold CWind Ltd, a leader in offshore wind services, to All Energies Services Group (AES Group). CWind, known for its comprehensive offshore wind support services, was acquired by Inspirit in October 2023 from Global Marine Group. Under Inspirit's stewardship, CWind underwent a transformative carve-out and revitalization. This acquisition by AES Group aligns with their strategic mission to expand in the renewable energy sector, positioning themselves as a premier provider of sustainable energy solutions. The acquisition reflects AES Group's commitment to clean energy, and positions CWind for further growth in offshore wind operations. Joseph Browse, CWind’s Managing Director, expressed optimism about the new chapter, thanking Inspirit for their pivotal role in CWind’s reestablishment. Paul Youens of Inspirit Capital highlighted the accomplishments under their ownership and expressed confidence in AES Group's ability to further elevate CWind's impact in the renewable energy sector.
Sectors
- Renewable Energy
- Private Equity
- Maritime Services
Geography
- United Kingdom – CWind has a strong market presence and operational footprint in the UK, which is relevant considering its divestment by Global Marine Group to Inspirit and operations across Europe.
- Europe – CWind operates across Europe in the offshore wind sector, making this geography relevant to its services and market reach.
Industry
- Renewable Energy – The sale of CWind to AES Group involves companies operating within the renewable energy sector, focusing on offshore wind services and sustainable energy solutions.
- Private Equity – The involvement of Inspirit Capital in acquiring, carving out, and subsequently selling CWind signifies active participation of the private equity sector in managing and transitioning portfolio companies.
- Maritime Services – CWind provides specialized services like crew transfer vessels and asset management primarily for the offshore wind industry, hence aligning with maritime services.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CWind Ltd | Target Company | Company | CWind is a leading provider of offshore wind services, recently acquired by AES Group from Inspirit Capital. |
| Inspirit Capital | Selling Company (Vendor) | Company | Private equity firm that sold CWind to AES Group after acquiring it and repositioning it as a standalone entity. |
| All Energies Services Group (AES Group) | Bidding Company (Buyer) | Company | AES Group is a provider of sustainable energy solutions and the acquirer of CWind, aiming to strengthen their offshore wind capabilities. |
| Global Marine Group | Previous Owner | Company | Divested CWind to Inspirit Capital prior to its sale to AES Group. |
| Joseph Browse | Managing Director of CWind | Person | Expressed excitement about the acquisition and acknowledged Inspirit's support. |
| Paul Youens | Investment Director of Inspirit Capital | Person | Commented on the successful transition of CWind under Inspirit's ownership. |