Manor Renewable Energy has been bought by expanding global offshore services business OEG Offshore for an undisclosed sum.
Acquisition of the temporary power, engineering and vessel business, which boasts group turnover in the region of £30m, advances OEG’s fast‐paced strategy to deliver integrated offshore service packages across the world.
Bringing Manor Renewables’ expertise, reputation and track record into the OEG fold instantly enhances its topside offering following its purchases last year of offshore welfare leaders Pegasus Welfare Solutions and offshore radio‐communications specialists Fern Communications.
At the same time the purchase of Hughes Subsea Services last autumn expanded its subsea position in renewables installations and maintenance.
For Manor Renewable Energy (MRE), joining the OEG group supports its plans to grow to a £60m‐turnover business as it eyes the “huge opportunities” to build on the foundations laid in the last nine years. With overseas operations experience across Europe and more recently, Taiwan, MRE is looking to extend its presence in the Far East, as well as breaking into the US market.
Portland, Dorset‐based MRE is best known for is temporary power solutions, with its biggest contract on Orsted’s Hornsea 2 project and the support and maintenance of over 150 generators offshore.
Former mariners Eric Briar and Toby Mead founded MRE in 2013, initially focusing on temporary power solutions for the burgeoning offshore wind sector, before expanding into engineering and vessel solutions following their purchase of the Dorset based shipyard, Manor Marine.
Now, with bases in Portland, Portsmouth, Glasgow and Hull, the business has five owned specialist offshore support vessels and two chartered, including a dynamically positioned vessel. Plans for a hydrogen vessel are in the early stages, with work ongoing with industry partners on autonomous vessels.
Eric Briar, MRE chief executive officer, said: “We have developed a strong position in the construction side of offshore renewables and wish to build upon those foundations to develop an increased proportion of our revenues from the operations and maintenance part of an offshore wind projects lifecycle.”
All 230 MRE workers will remain with the group with growth predicted.