Funds Managed by Apollo Acquire Majority Stake in OEG Energy
Funds managed by affiliates of asset manager Apollo have acquired a majority stake in Aberdeen-based offshore contractor OEG Energy.
Apollo bought the stake from funds managed by the Power Opportunities strategy of Oaktree Capital Management and other investors. The headline valuation of the deal is over $1bn.
Oaktree and other investors will retain a minority stake following the transaction close, which is expected to occur in the second quarter of 2025.
OEG has been operating for more than 50 years in the oil & gas and offshore wind markets. The company owns and operates one of the world’s largest fleets of cargo-carrying units with over 75,000 units, enabling the safe transportation of essential cargo to and from offshore energy installations.
Its OEG Renewables division is an integrated provider of technical solutions and services to the offshore wind sector.