Stout Advises Inspirit Capital on the Acquisition of CWind

October 11, 2023

Stout is pleased to announce that it has advised Inspirit Capital on a carve-out of CWind, a leading provider of offshore wind support services, from Global Marine Group. Stout served as an exclusive financial advisor to Inspirit Capital in connection with this transaction.

CWind completes approximately 60,000 crew transfers annually, utilizing their fleet of 12 owned/operated crew transfer vessels (CTV), including the world’s first hybrid surface effect ship CTV, CWind Pioneer. The company has played an integral role in the success of over 50 U.K. and European offshore wind farms since 2010.

Inspirit Capital is a London-based investment firm that specializes in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential.

Paul Youens, Investment Manager at Inspirit Capital, says, “We are delighted to be investing in CWind, a clear market leader in the offshore wind market, which further demonstrates Inspirit’s capacity to deliver corporate carve-outs. The business has a rich heritage and strong relationships with key operators in the sector. We are excited to back management’s vision to nurture and expand existing customer relationships, as well as deliver on the ambitious sustainability plans for the business. Stout’s sector knowledge and transaction advice has been invaluable to the transactions success.”

Joe Browse, Managing Director at CWind, adds, “CWind is embarking on an exciting journey with Inspirit Capital as our new owner. Our unwavering commitment to the offshore wind industry remains stronger than ever. This acquisition will enable us to enhance our offering, further explore innovative solutions for our clients, and continue supporting the growth of clean, sustainable energy generation.”

Jon Howells, Head of Stout U.K. and Nordics, said, “We are proud to have advised Inspirit Capital on this transaction and wish CWind every success under their new ownership. We are pleased to complete this successful transaction in the offshore renewable energy sector.”

Inspirit Capital was advised by Stout. The team comprised of Jon Howells, Cesar Remacha, and Damian Serwin. Legal counsel was provided by James Cross, Michael Anderson, and Enis Hallacoglu of K&L Gates.

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Stout Park Limited is an Appointed Representative of Sturgeon Ventures LLP which is authorized and regulated by the Financial Conduct Authority.