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February 9, 2022

Wight Shipyard signs merger deal with Ocea

The combined group will provide employment opportunities at the East Cowes yard.

UK-based aluminium shipbuilder Wight Shipyard is set to merge with French shipbuilding company Ocea in an all-share deal that will double its size.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The merger aims to tap opportunities in the fast ferry and offshore renewable energy space.

The combined entity will offer employment opportunities at the East Cowes yard.

Wight Shipyard CEO Peter Morton said: “This is a transformational deal for The Wight Shipyard and for the Isle of Wight, confirming the resurgence of the shipbuilding industry in the United Kingdom.

“We have enjoyed a first-class working relationship with Ocea to produce vessels and solutions to the highest standards, pushing the boundaries in terms of fuel efficiency, the environment and modern shipbuilding practices.”

While Wight Shipyard provides green vessels both domestically and internationally, Ocea delivers passenger vessels, multipurpose workboats and transoceanic yachts.

Both firms hold complementary expertise in the offshore renewable energy industry.

After the merger, the group will be involved in aluminium shipbuilding operations, with an order book that provides business security as well as sustainability in upcoming years.

The group will conduct operations and share resources in East Cowes following the deal, which is expected to complete in March.

Additionally, Wight Shipyard won a contract for two new ‘Uber Boat by Thames Clippers’.

The firm is currently developing and building new Clipper-class ships that will feature modern battery-power technology and re-charging options.

In 2019, Wight Shipyard introduced its newly constructed hybrid ship.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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