UK, US and European investment as Acteon is acquired

27 Mar, 2024
Norwich-anchored Acteon Group, a global offshore energy infrastructure services business, has been acquired by private equity investors Buckthorn Partners and One Equity Partners (OEP). No figures have been disclosed for the international deal.
Courtesy – Acteon Group

Buckthorn and OEP are making a substantial but unspecified investment in the business to improve Acteon’s standing with suppliers and customers and enable it to compete even more strongly in its core markets.

The investors’ focus will be on developing Acteon’s capabilities across survey, foundations, moorings, decommissioning and consulting engineering services that support and differentiate the business in the offshore renewable, and offshore oil and gas market sectors.

Brice Bouffard has been appointed as Chief Executive Officer of Acteon, bringing a wealth of business experience highly relevant to the company and its key segments.

Rob Willings, Partner at Buckthorn, says: “Acteon’s products and services are key to the energy transition in constructing, maintaining and supporting offshore energy infrastructure.

“We are very pleased to acquire Acteon and its market-leading capability in managing offshore renewable, and offshore oil and gas infrastructure. Our ownership will bring stability to the business, and investment and expertise to grow and develop the company.”

Acteon provides specialist engineering, services and technology to companies that develop and own offshore energy infrastructure across all phases of the lifecycle. The business was established in 1989 and employs 2,300 staff operating from 58 locations across 14 countries worldwide.

Acteon’s original focus was on engineered solutions between the interfaces of well conductors and production facilities and the business developed organically through the 1990s.

As the focus became more subsea oriented, the Acteon brand replaced that of UWG Group in 2004. Over the last decade, the Acteon group has grown nearly tenfold into the global marine energy and infrastructure services company it is today – organic growth still being the dominant area while acquisitions are still strategically targeted.

The group also has an impressive track record of commercialising new technologies and establishing and successfully growing new startup businesses such as Large Diameter Drilling (LDD) and Pulse Structural Monitoring (Pulse).

Buckthorn Partners is a UK investment company focused on acquiring and growing energy products and services businesses involved in the energy transition.

Since 2014, it has made 18 investments across six platforms, to provide portfolio companies with industry experience, a broad industry network, primary capital, M & A expertise and strategic advice.

One Equity Partners is a middle market private equity firm focused on the industrial, healthcare and technology sectors in North America and Europe. It has completed more than 300 transactions worldwide.

Founded in 2001, OEP spun out of JP Morgan in 2015 and has offices in New York, Chicago, Frankfurt and Amsterdam.