Muckle supports energy acquisition with employment advice
Roland Fairlamb from our employment team has provided advice on a major acquisition in the offshore energy industry.
Muckle LLP supported the sale of Subsea Energy Solutions (SES), an independently owned SME who provide offshore energy equipment from their base in Catterick North Yorkshire, who have been acquired by RTS Wind Group GMBH.
RTS Wind Group GMBH is owned by Topp Holdings GmbH, a family-owned independent holding company headquartered in Bremen, Germany with revenues above 230m EUR and 6000 staff.
The acquisition is part of Subsea Energy Solutions next stage of growth following the success of its patented SUB-FLEX™ product which is widely considered the best cable protection system for the floating wind industry.
The global floating wind power market size was estimated at USD 2.9 billion in 2021 and is expected to hit USD 69.8 billion by 2030, poised to grow at a CAGR of 42.4% from 2022 and 2030.
Investment and growth
Christopher Topp, CEO at Topp Holdings, said: “We identified the incredible growth potential within Subsea Energy Solutions and could see the company is a perfect fit with our group companies. We are excited about working with Philip Stanyon and the team to support the massive potential as the industry continues to grow.”
Steve Pugh, strategic director at Subsea Energy Solutions, said: “The investment brings additional stability and strength to SES helping us support existing staff, customers and stakeholders, but also provides an incredible investment opportunity to capitalise on the growth in the floating wind and offshore energy market”.
Trusted advisers
Employment advice was provided by Roland Fairlamb, solicitor in Muckle’s employment team.
Roland said: “We were delighted to assist with the acquisition by providing employment advice and support and we are looking forward to seeing SES continue to expand under its new ownership.”
In response to the support from Muckle, Steve Pugh continued: “The support from Muckle’s employment team was excellent and provided everything we needed within tight timescales. Within deals like this, there are often many moving parts which all need to come together at the right time, and I couldn’t recommend the support of the employment team highly enough.”
For more information, or if you’d like any employment advice, please contact Chris Maddock on 0191 211 7919 or [email protected].