Apollo Funds to Acquire OEG, a Leading Provider of Core Services to the Offshore Energy Industry

Core Insights - Apollo has agreed to acquire a majority stake in OEG Energy Group, valuing the company at over $1 billion, with Oaktree retaining a minority interest [1][2][3] Company Overview - OEG Energy Group has been a key player in the offshore energy sector for over 50 years, providing development and operations solutions to oil & gas and wind markets [2][8] - The company operates one of the largest fleets of cargo carrying units (CCUs) globally, with over 75,000 units, facilitating safe transportation to offshore energy installations [2][9] - OEG's Renewables segment offers integrated technical solutions and services specifically for the offshore wind sector [2] Leadership Statements - OEG's CEO, John Heiton, emphasized the company's commitment to expanding capabilities in response to energy transition investments [3] - Apollo's Partner, Wilson Handler, highlighted the opportunity for growth in OEG, driven by demand for efficient energy production and renewable power [3] Investment Context - Over the past five years, Apollo-managed funds have committed approximately $58 billion to climate and energy transition-related investments [2] - Apollo aims to deploy $50 billion by 2027 and over $100 billion by 2030 under its Climate and Transition Investment Framework [6] Transaction Details - The acquisition is subject to regulatory approvals and is expected to close in Q2 2025 [4] - Financial and legal advisors for the transaction include Banco Santander SA and Vinson & Elkins LLP for Apollo, and Goldman Sachs International for Oaktree [4][5]