EnTrust Global’s maritime holding company, Purus Marine, has revealed a takeover deal in the UK to expand its offshore wind vessel fleet.
The company has acquired Swansea-based HST Marine and its fleet of crew transfer vessels (CTVs) for an undisclosed price.
HST’s modern fleet of seven operational ships and four newbuildings on order includes one of the industry’s first battery hybrid CTVs, the 25-loa Chartwell-designed HST Ella (built 2021).
Purus’ offshore wind business, Purus Wind, will now employ 100 people in the UK and Norway, with extensive engineering, vessel management and chartering expertise.
It will also offer battery hybrid offshore wind construction/service operation vessels (C/SOVs), inspection drones and other services.
“With the acquisition of HST, Purus Wind is well positioned to be a leader in providing integrated C/SOV and CTV offshore wind support solutions,” said chief executive Julian Proctor.
Svein Engh, senior managing director of US alternative financier EnTrust, added: “Our platform allows us to offer more products to our offshore wind customers and to cover them globally, allowing us to build deeper industry relationships.”
Engh is also a senior advisor to, and board member of, Purus.
HST chief executive Tom Nevin will serve as the business head of Purus Wind.
Growth will be supported
He said: “We are delighted to find a partner in Purus, who shares our strong commitment to providing low-carbon solutions for the construction and operation of offshore wind farms, and who is well positioned to support our growth.”
In July last year, Entrust made its first move into offshore wind farm shipping, promising more to come.
Purus acquired a new service operation vessel due this year that came with a long-term charter to a renewable energy company.
EnTrust Global has been busy expanding in shipping.
Maas Capital acquired
In 2021, it bought Dutch lender ABN Amro’s Maas Capital.
The deal for the independent subsidiary was agreed as part of the bank’s disposal of non-core assets.
The Maas portfolio consisted of 15 controlling and non-controlling stakes in shipping, intermodal and offshore services-related assets.
And in April 2021, Dutch shipbuilder Damen Shipyards Group moved into shipowning in a leasing venture with Purus Marine, which was set up by EnTrust as a shipping and infrastructure financing company.
The idea is to own and lease out environmentally advanced newbuildings to help operators with energy transition financing.
Last November, Purus teamed with Celsius Tankers to order two LNG carrier newbuildings at Samsung Heavy Industries for delivery in 2024.
Purus said the vessels will start multi-year time charters with an energy major.
