Venterra Group is using a finance package from HSBC UK to assist with the expansion of its global footprint. The funding will support the acquisition of two international companies as Venterra seeks to become a global services champion strengthening the offshore wind industry’s rapid expansion.
Venterra has acquired eight businesses over the last two years as member companies of the group and will also use the funding to provide capital expenditure for investment into growing the capability of each these. These investments will help Venterra’s businesses to engineer, build and support offshore wind energy developments on a global scale.
The news follows Venterra’s recent acquisition of Cape Holland, a market leader in offshore vibro-piling, an innovative method used to install and remove large monopile foundations that support wind turbines.
Philippe Kavafyan, Chief Executive Officer at Venterra Group, said: “We’ve had an exciting two years supporting the expansion of the offshore wind sector, and things show no signs of slowing down. With the industry expecting to achieve around 270GW of global offshore wind capacity by 2030, Venterra is providing a service that is capable of meeting the growing and critical demand of green energy on the road to Net Zero.”
Alex Brown, Relationship Director at HSBC UK, added: “We’ve backed Venterra Group’s impressive growth journey since its incorporation two years ago. These latest strategic acquisitions increase the breadth of services that Venterra can provide to ultimately deliver the infrastructure needed in the transition to green energy. We have become a trusted partner to Venterra and we are pleased to be a part of this exciting phase in the business’ growth and further international expansion.”
Founded in 2021, Venterra’s growth plans include the acquisition of a range of businesses within the sector, to build a service that encompasses the wind farm lifecycle, from concept design and building to decommissioning.