SCF Partners Announces Investment in Tekmar Group, a Leading Technology and Services Provider to the Offshore Wind and Energy Markets
Darlington, United Kingdom – April 2023 – SCF Partners (“SCF”) is pleased to announce its investment in Tekmar Group plc (“Tekmar”), a leading provider of technology and services for the global offshore wind and energy markets. SCF’s investment will be used to accelerate Tekmar’s growth strategy that will capitalize on the increasing demand for offshore wind projects worldwide.
Alasdair MacDonald, CEO of Tekmar Group, said: “We are delighted to have successfully completed the strategic investment with SCF, which is a very significant and positive landmark for the business. SCF are a highly complementary partner for Tekmar and share our ambition to build a leading offshore energy product and services company, leveraging Tekmar’s existing market-leading and trusted position in the industry. SCF are a highly regarded energy services investor with a long track record of building leading energy services businesses globally and generating significant shareholder value. SCF has diligently assessed the strength of Tekmar’s existing business and sees the significant opportunity we have to grow with our customers in our core markets.
Importantly, this transaction emphasizes continuity and confidence to Tekmar’s key stakeholders, with Tekmar remaining an independent publicly traded company, now with enhanced investment capacity to develop new technology, expand our product offerings, and enter new markets. The strategic investment by SCF therefore very successfully concludes the strategic review process.
We are also delighted to welcome Steve Lockard and Colin Welsh to the Board of Tekmar as representatives of SCF and separately to announce the appointment of Bill Boyle as Chief Commercial Officer, further strengthening the management team.
We are excited about the future for Tekmar and are confident we will deliver on the significant opportunity ahead in our core markets to further strengthen our industry position for the benefit of all shareholders, customers, partners and employees.”
Steve Lockard, Operating Partner at SCF and former wind industry CEO, said: “SCF are excited to be partnering with the team at Tekmar. From our perspective, we are investing in a business with market leading positions and a strong reputation in the industry for engineering excellence. We firmly believe this creates an unrivalled platform for Tekmar to grow with their customers and industry partners, creating a leading player in the offshore energy market.
Tekmar plays a critical role in supporting the decarbonization of energy infrastructure. The team has the capability and core offering to support today’s infrastructure requirements and also to play a leadership role in broadening their offering in support of the industry’s maturing requirements in an increasingly complex offshore wind environment. Our investment reinforces Tekmar’s market leading position today and provides flexible capital to accelerate growth in a dynamic industry where investment is scaling rapidly in support of the world’s evolving sources of energy.”
About Tekmar Group plc
Tekmar Group plc (AIM: TGP) collaborates with its partners to deliver robust and sustainable engineering led solutions that enable the world’s energy transition.
Tekmar provides a range of engineering services and technologies to support and protect offshore wind farms, other offshore energy assets and marine infrastructure. With near 40 years of experience, the company optimizes and de-risks projects, solves customer’s engineering challenges, improves safety and lowers project costs. Tekmar’s capabilities include geotechnical design and analysis, simulation and engineering analysis, bespoke equipment design and build, subsea protection technology and subsea stability technology.
Headquartered in Darlington, UK, Tekmar has an extensive global reach with offices, manufacturing facilities, strategic supply partnerships, and representation in 18 locations across Europe, Africa, the Middle East, Asia Pacific, and North America. To learn more, go to www.tekmargroup.com.