North Star has officially completed the acquisition of four new Service Operation Vessels (SOVs) from Edda Wind.
The transaction brings North Star’s offshore wind fleet to 14 vessels – rendering it one of Europe’s largest, strengthening the company’s leadership within the long-term European SOV market and establishing it as the world’s largest integrated SOV owner-operator by fleet size and charter backlog.
Currently deployed on offshore wind contracts; the four SOVs provide immediate access to high-specification capacity, and will provide North Star with further flexibility in meeting customer needs across a number of key European markets. The company’s financial platform and operational scale will support the comprehensive integration of the new vessels into the North Star platform whilst maintaining business continuity with clients.
The acquisition consists of four high-specification vessels: the Goelo Enabler, Boreas Enabler, Nordri Enabler, and Sudri Enabler, together with all associated charter parties. In total, 160 offshore roles will continue to support these vessels, as well as North Star’s existing operational teams.
North Star CEO Gitte Gard Talmo said:Finalising this four-vessel transaction marks another step forward for North Star in offshore wind. Bringing these SOVs into our fleet broadens our customer offering, strengthens our platform and reinforces our presence in key European markets. It also underlines our leadership in the region’s SOV sector and provides a strong foundation for the next phase of expansion across the business.
I am proud of our team, who have worked tirelessly to complete the necessary due diligence and ship inspections, and I am very pleased to welcome many new colleagues to North Star as part of this exciting expansion.
North Star was acquired by Partners Group in 2022, which has also supported North Star’s Emergency Response & Rescue Vessels (ERRVs) platform, which serves to complement the company’s growing SOV fleet business.
Expected to generate c. 100 million GBP of run rate EBITDA; North Star possesses a fleet of 37 ERRVs – the largest of its kind in Europe, and provides mission-critical services to the offshore energy industry under a highly regulated framework.
