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Riverstone acquires Seajacks International

Private equity firm Riverstone Holdings has acquired Seajacks International for a total cash consideration of USD207m.

Great Yarmouth, UK-based Seajacks currently owns and operates two self-propelled jack up vessels that install offshore wind turbines and perform a number of niche operations for the North Sea oil and gas industry. 

Riverstone plans to grow Seajacks into a leading European offshore wind service business, with an operational base in the UK.

Riverstone will focus initially on expanding the current fleet of vessels to service the rapidly expanding market for turbine installation and maintenance.

Akin Gump Strauss Hauer & Feld LLP partners Anthony J. Renzi and Sebastian Rice and counsel Blayne A. Grady advised Riverstone on the transaction.

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