Partners acquires offshore support firm North Star
Partners Group, a global private markets firm, is acquiring North Star, an Aberdeen-based operator of specialised vessels, from Basalt Infrastructure Partners.
North Star has a fleet of 48 emergency response and rescue vessels (ERRVs) and service operation essels (SOVs) and around 1,400 employees.
The ERRV fleet is the largest in Europe and provides essential crew rescue, firefighting, and other emergency response services to offshore energy operations in the North Sea.
Partners aims to transform the business into a pan-European offshore wind infrastructure services company.
David Daum, managing director, private infrastructure, Partners Group, said: “North Star represents an excellent opportunity to acquire a leading energy infrastructure services business that is well-positioned to capitalise on the transformative trends driving growth in the offshore wind industry.
“The company provides mission critical services and benefits from steady demand due to high barriers to entry and few direct competitors. We have extensive experience in the offshore wind sector and North Star is a great fit for our platform-expansion strategy.”