Cyan Renewables, a portfolio firm of Seraya Companions, has acquired a majority stake in Sentinel Marine to strengthen its place within the UK offshore wind market and enhance its native content material.
Singapore-based Cyan Renewables, Asia’s first devoted offshore wind vessel operator, has reached an settlement to amass a 75% stake in Sentinel Marine, a maritime environmental response vessel operator within the UK that at present owns the youngest fleet of Emergency Response and Rescue Vessels (ERRVs) within the UK.
Sentinel Marine boasts a fleet of 13 fashionable, high-specification offshore help vessels outfitted.
By way of this acquisition, Sentinel Marine’s multi-role ERRVs will complement Cyan Renewables’ vessel portfolio, whereas putting the latter in a strategic place to carry its experience to the offshore wind market within the UK.
By leveraging and lengthening Sentinel Marine’s proficiency in marine life and biodiversity safety past the UK, it would additionally create synergies within the Asia market to strengthen marine conservation efforts, which is a big step in supporting the worldwide transition from blue to inexperienced economic system.
“We welcome Cyan Renewables as our majority shareholder. With its sturdy monetary functionality, Sentinel Marine can be in a stronger place to develop, particularly out there of offshore renewables,” mentioned Rory Deans, CEO, Sentinel Marine.
“With a powerful administration crew and native know-how, Sentinel Marine is properly positioned to pivot and seize a slice of the fast-growing offshore wind market within the UK.
“This acquisition permits Cyan Renewables to exhibit its long-term dedication to supporting the native economic system with substantial job creation and dynamic data switch. It is usually according to Cyan Renewables’ purpose to double our fleet via the buying and newbuilding of vessels within the coming years,” added Lee Keng Lin, Founding CEO, Cyan Renewables.
