New Japanese owners for Great Yarmouth based Seajacks

Successful Great Yarmouth firm Seajacks which provides jack-up vessels for the offshore energy industry has been bought by two Japanese firms.

The deal - for an undisclosed sum - will see ownership of the company transfer from former BP chief executive Lord Browne's Riverstone Holdings LLC to one of the largest Japanese trading companies Marubeni Coporation and government-backed private equity firm Innovation Network Corporation of Japan (INCJ).

Seajacks managing director Blair Ainslie said the deal would allow the company to expand its fleet of jack-up vessels.

He said: ''I am delighted that this transaction has been agreed. This is a logical step forward for Seajacks, and great news for our loyal staff and for our valued customers. With Marubeni and INCJ as our owners, we will be able to expand our fleet and consolidate our position as one of the leading turnkey offshore energy service companies in Europe. We expect to announce the commencement of construction of new vessels in the very near future to take advantage of the significant business opportunities we are seeing.'

Lord Browne said he was very proud of the fleet which the Seajacks management team has assembled and the value the company has created for its investors while meeting the needs of the fast‐moving offshore renewable energy industry in Europe.


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