Company: OEG Offshore, Pegasus Welfare Solutions (PWS)
Business Type: Offshore equipment
UK & International Business Sales and M&A News
The Aberdeen-based OEG Offshore has made another strategic step in its ambitious growth plans by acquiring offshore welfare and hygiene systems pioneer Pegasus Welfare Solutions.
The acquisition of the Norfolk company strengthens offshore equipment specialist OEG’s offering for the renewables sector with PWS’ range of offshore workforce welfare solutions.
As part of the deal, PWS founder and engineer Dan Greeves has joined OEG as Head of Renewables.
Dan Greeves’ invention of the world’s first offshore wind turbine in‐tower toilet was hailed as an industry gamechanger when it was released in 2020, winning a first order by Swedish energy group Vattenfall for a unit for every turbine on its Aberdeen Offshore Wind Farm, renowned for its ‘firsts’ and industry innovation.
Greeves, former Head of International Development for James Fisher Marine Services, will now drive PWS’ patented product portfolio across OEG worldwide and further develop OEG’s products into the offshore wind sector, while seeking out new renewables opportunities and acquisitions in the UK and internationally.
OEG Chief Executive Officer John Heiton said PWS was a perfect fit as OEG reshaped its portfolio in line with the energy transition and expanded its global footprint.
He commented:
“This is an exciting acquisition for OEG as we continue our growth strategy geographically and our product offering across Europe, Africa, Middle East, Caspian, Asia Pacific and the Americas.
“Dan has developed patented products that have addressed the ‘elephant in the room’ in offshore wind and deliver real results for developers by improving safety and productivity, as well as addressing the important diversity issue in the sector.
“Its stable of patented products have massive worldwide potential. We intend to develop this business across Europe and into Asia and the Americas as offshore wind continues to develop as a sector.
“PWS multi‐unit rental systems are used in offshore wind construction but also have huge scope in offshore oil and gas decommissioning projects and other sectors, such as humanitarian crises and military uses.”
John Heiton – OEG Chief Executive Officer
OEG has developed as a market leader in its area of focus through acquisitions and organic growth and now has a workforce of more than 400 and is active in more than 37 countries.
The offshore equipment specialist has supplied the market with DNV certified containers, baskets, skips, workshops and offshore tanks as well as standard and customised A60 engineering cabins for 35 years, on both a rental and sales basis.
Dan Greeves, who left his Taiwan‐based role at the start of the pandemic in 2020 to return to the UK to drive the business he started alongside his day job in 2017, is driven by a mission to push PWS’ welfare units to become industry‐standard and with every turbine in the world fitted with one.
He commented:
“Becoming part of OEG opens so many opportunities for PWS products worldwide and for OEG’s specialist containers, baskets and equipment in the renewables sector. The synergy was immediately apparent.”
Dan Greeves - Founder of PWS
PWS will be retained as a separate brand within OEG Offshore.
It is hoped that the introduction of toilets on turbines will go some way to rectify the current gender imbalance in the offshore wind workforce.
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