French Company to Take Over Correll Group

December 8, 2023, by Adnan Memija

The French company, SPIE, has revealed the plan to take over UK-based offshore wind engineering, installation, and maintenance services company, Correll Group.

Founded in 2014 and headquartered in Skelton, Correll Group stands out for its knowledge in the connection and testing of submarine high-voltage cables for the interconnection of wind farms, said SPIE.

According to the French firm, Correll Group deploys its expertise in the offshore wind sector worldwide, particularly in Europe (Atlantic, Baltic, and North Sea), the US, and Taiwan.

SPIE will acquire 85 per cent of the share capital upon completion, while the remaining 15 per cent will be retained by the management team. The company expects to complete the transaction in January 2024, subject to customary closing conditions.

Since 2020, SPIE has won several contracts in the French offshore wind sector, including two related to the Fécamp and Courseulles-sur-Mer offshore wind farms.

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For SPIE Oil & Gas Services, which will become SPIE Global Services Energy as of January 2024, this acquisition represents a major step in its diversification strategy towards renewable energies implemented several years ago to support its customers in their energy transition, said SPIE.