Cyan Renewables, a portfolio firm of Seraya Partners, 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 accumulate 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 geared up.
Through this acquisition, Sentinel Marine’s multi-role ERRVs will complement Cyan Renewables’ vessel portfolio, whereas putting the latter in a strategic place to convey 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’ll additionally create synergies within the Asia market to bolster 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 strong financial capability, Sentinel Marine will be in a stronger position to grow, especially in the market of offshore renewables,” mentioned Rory Deans, CEO, Sentinel Marine.
“With a strong management team and local know-how, Sentinel Marine is well positioned to pivot and capture a slice of the fast-growing offshore wind market in the UK.
“This acquisition allows Cyan Renewables to demonstrate its long-term commitment to supporting the local economy with substantial job creation and dynamic knowledge transfer. It is also in line with Cyan Renewables’ goal to double our fleet through the acquiring and newbuilding of vessels in the coming years,” added Lee Keng Lin, Founding CEO, Cyan Renewables.
