Strategic value-accretive acquisition adds a new service offering for OEG Renewables.
OEG Energy Group Limited (“OEG”, the “Group”), a leading offshore solutions business, is pleased to announce that it has completed the acquisition of ONRG Limited (“ONRG”), a leading provider of specialist high voltage (“HV”) project engineering services to the offshore and onshore energy industry based in East Anglia, UK.
ONRG has established itself as a specialist in managing and performing work on HV network assets across the design, build, commission and operation phases for offshore wind farms and related energy infrastructure with an unwavering commitment to electrical safety management. The company and management have a wealth of experience working on major offshore wind projects with international blue-chip clients in the UK, Taiwan, and USA. In addition, ONRG has supported onshore HV grid infrastructure projects, including for battery energy storage systems (BESS).
ONRG will join the OEG Renewables (“OEGR”) division, adding a new service offering and opening new market opportunities for OEGR to offer integrated service solutions building upon both companies existing strong industry relationships. The ability to offer an integrated service solution is attractive for clients that want to increase project efficiencies and lower interface risk with contractors.
Highlights:
- Since 2020, OEG has ramped up its specialist service offering in the renewables sector with 13 acquisitions, demonstrating its commitment to rapid growth in this market.
- The ONRG team brings a wealth of experience and talent that will further strengthen OEGR’s capabilities and expand our ability to pursue its ambitious growth plans.
- Highly complementary addition to OEGR’s existing specialist subsea, topside, and marine services, creating new opportunities to offer integrated service solutions, increasing project efficiencies and lowering interface risk for our clients.
John Heiton, OEG’s Chief Executive Officer said: “We are very pleased to welcome ONRG to the OEG group. This strategic rationale is compelling, giving OEG Renewables the opportunity to add a high-quality, fast-growing business that brings a new set of technical skills and knowledge to OEGR’s service offering. The acquisition underscores our commitment to growth and innovation, allowing us to better serve the evolving needs of our clients in the growing offshore energy sector.”
Chris Emmins, Founder and Managing Director of ONRG said: “Joining the OEG group will allow ONRG to tap into OEG’s global network, broadening its service portfolio and unlocking the potential for combined solutions in uncharted markets Both OEG Renewables and ONRG share the same values and commitment to achieving the highest possible standards of Health and Safety and to building lasting partnerships through the provision of client focused added value solutions.”