FoundOcean announces that Ambienta SGR, Europe’s largest private equity fund focused on the environmental sector, has signed an agreement to acquire a 35% stake in the company.
Jim Bell , Managing Director at FoundOcean explained, “We are delighted that Ambienta has chosen to invest in FoundOcean as it makes the transition from a 40-person company to 100 and beyond. The investment will enable FoundOcean to continue with its forecasted growth strategy of expanding its high profile presence in the offshore renewables sector by building additional grout mixing equipment, and employing more engineers and operational personnel.”
FoundOcean has completed foundation grouting for four offshore renewables contracts since 2010 including Ormonde and Thornton Bank offshore wind farms, and has been awarded a further three offshore wind farms comprising a total of 248 structures, starting in 2012. It is the dedication and professionalism of FoundOcean’s growing team of offshore personnel that keeps their long term clients returning and new clients wanting to work with them.
Rolando Polli , Founding Partner at Ambienta observed: “Ambienta recognises FoundOcean’s proven experience and skills developed in the oil and gas industry. Their successful entry into the offshore renewables construction market and position as the leading foundation grouting contractor are what attracted us to the company.” Giancarlo Beraudo , Associate at Ambienta remarked: “This is a distinctive feature of our investment strategy: we select European companies with established technologies that are transferable to renewable energy.”
The synergy between the two companies was paramount to the deal. Ambienta brings a wealth of experience from corporate management to engineering, as well as access to a wide range of financial and industrial markets including cement manufacturing. FoundOcean boasts a large proportion of technical and professionally qualified employees as well as sophisticated corporate governance and management systems.
Three of Ambienta’s management team will take positions on FoundOcean’s Board to support the entry in the offshore renewables sector and the development of international operations: Rolando Polli, Founding Partner; Giancarlo Beraudo, Associate; and Rudolf Ohnesorge, Investment Partner. They join FoundOcean’s Chairman, Keith Miller; Jim Bell, Managing Director; Martin Hardy, Commercial Director; Neil Smith, Finance Director; Francis Bartlett, Corporate Affairs Director; and Malcolm Head, Legal Director.
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Offshore WIND staff, June 17, 2012; Image: FoundOcean