Riverstone Holdings last week successfully closed the acquisition of Seajacks International, thereby entering the growing offshore wind services market. The acquisition amount was USD 207 million.

Seajacks International has successfully operated in the offshore wind services business with two special purpose vessels, the Seajacks Kraken and the Seajacks Leviathan. Both vessels have been built for the specific purpose for installation offshore wind turbines, but also specific operations for the offhsore oil and gas industry.

Seajacks Leviathan - computer rendering of the Leviathan, showing all the major functional parts of the vessel. Notably, the blade carrying platform on the right. The whole ship is able to move vertically, and progress with the installation all the way to the nacelle and the blades.

The Kraken is currently under contract carrying out gas field service work and will soon begin a 15 month contract with DONG Energy on installing wind turbines at the Walney offshore wind farm. The Leviathan, on the other hand, is currently engaged in a 15 month contract as well, with Fluor Corporation to provide installation services at Greater Gabbard, one of the largest offshore wind farms under construction in the world.

Riverstone has plans to make Seajacks International a leading offshore services company in Europe, with the company's operational base remaining in the UK. One of the following steps for Riverstone and Seajacks is the expansion of the fleet in order to be able to keep up with the anticipated growing demand for offshore wind services in coming years (from the recently announced Round 3 offshore development zones), but also for other offshore wind projects in Europe and elsewhere. Riverstone is planning to allocate a substantial amount of capital for this purpose.

[source: Riverstone Holdings, Seajacks International]