Sparrows Offshore has now become Altrad Sparrow. It will be run autonomously by its existing management as a separate entity within Altrad.
The company is a global provider of engineering, inspection, operations and maintenance services to the offshore energy, renewables and industrial sectors worldwide.
Sparrows had long ago separated from the Sparrow crane family that set it up and was under private equity ownership when Altrad took over. While it shares roots with the Sparrow Crane Hire mobile crane business in Bristol, it is financially totally unconnected.聽
Altrad said that the transaction, which includes Sparrows鈥� wind energy business Alpha, enhances further diversified its activities, particularly in the high-growth renewables market.
Altrad co-chief executive Ran Oren said: 鈥淲e are delighted to welcome Sparrows and its 2,000 strong team into the group. As the world鈥檚 leading lifting and handling specialist its level of technical expertise and experience is an extremely valuable addition to our capability. We are committed to investing in Sparrows to support its continued growth so together we can play our part in supporting industry to ensure safety and transition towards a more sustainable future.鈥澛犅�
Sparrows chief executive Stewart Mitchell 聽added: 鈥淭his is a pivotal moment for Sparrows. The acquisition presents many advantages for us and our clients as we continue on our growth trajectory. We are a people business and being part of the Altrad Group delivers even more opportunities for our people to develop fulfilling careers. By working together to share our skills and knowledge we will be able to support each other鈥檚 growth aspirations while our combined service offerings will allow us to deliver integrated solutions to global clients.鈥�
The purchase price was not disclosed.
Over the last 12 months, Altrad has completed a significant number of acquisitions, adding 拢1.2bn to its turnover worldwide, including RMD Kwikform and Doosan Babcock.
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