Venterra makes €170m subsea firm purchase

Oceanscan also provides geotechnical services and specialist personnel for the offshore energy market, and is seen as highly complementary to Venterra’s business.

“The addition and integration of Oceanscan into the Group places Venterra at the cutting edge of offshore subsea equipment and offshore sensing technology,” said Venterra Group CEO Ed Daniels. “Oceanscan’s capabilities, asset base and technical knowledge will help to reinforce Venterra’s position as providing one of the most comprehensive survey offerings in the market.”

Oceanscan is head-quartered in Aberdeen, Scotland with overseas subsidiaries in Houston and Singapore.

In the UK alone it has four subsidiaries – Oceanscan, which calibrates hydrographic survey, ROV sensors and non-destructive test equipment; Hydrographic Personnel Resources, which has specialists working in renewable energy with a focus on construction and inspection; Geoforce Technical Services, which offers cone penetration testing services; and Sercal Non-Destructive Test Equipment, for repair, sales and calibration services.

Venterra carried out its fifth equity raise to make the purchase, it says, along with bank facilities for a total investment of £140 million (€168.6 million).

“Joining Venterra gives us a bigger platform from which to grow faster and across an even wider range of offshore wind markets,” said Oceanscan CEO Derek Donaldson. “Combining our specialist equipment and geotechnical experience with the expertise that exists within Venterra means we will be able to offer an even more robust set of survey and geosciences services with greater international reach.”

Venterra Group was formed as a dedicated offshore wind services platform in 2021, bringing together technical experts in the planning, build and support phases of the offshore wind farm lifecycle.

Just this month, on October 1, new CEO Ed Daniels was brought in to replace Philppe Kavafyan.