CMB buys Windcat Workboats

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Windcat Workboats, one of the major operators of CTVs in the North Sea has been acquired by CMB writes Dag Pike.

Windcat owns and operates, directly or through its joint ventures, a fleet of 46 CTVs

Windcat is among the leading offshore wind support vessel providers in Europe, and owns and operates, directly or through its joint ventures, a fleet of 46 CTVs in the European offshore wind sector. Windcat is headquartered in Lowestoft, United Kingdom and IJmuiden, in the Netherlands and has joint ventures with two strong local partners, FRS Windcat Offshore Logistics in Germany and TSM Windcat in France. The company employs approximately 180 shore-based and sea-going personnel. The existing Windcat management team will continue to lead the company after the completion of the transaction.

Previous owner of Windcat, Seacor commented, “This sale represents another milestone in our strategy of optimizing our regional footprint and reducing costs. The proceeds from this transaction will enhance our liquidity, and further strengthen our position in a challenging environment and allow us to continue developing our hybrid battery powered platform supply vessels that we believe have significant potential.”

Willem van der Wel, the Managing Director of Windcat commented, “We have been working closely together with CMB over the past two years in the development of the Hydrocat, the world’s first Hydrogen driven CTV. This important step in Windcat’s history will allow us to further develop this cooperation.