TGS Acquires 4C Offshore Ltd.
By:
James Bernthal-Hooker
12/05/2021
TGS
TGS-NOPEC Geophysical
Company ASA ("TGS"), a global provider of energy data and intelligence,
announced today that it has acquired 4C Offshore Ltd. ("4C Offshore"),
a leading market intelligence and consultancy firm, providing research
and insights to the offshore wind industry.
4C Offshore offers a broad suite of data, analytics and services for the
offshore wind industry. With its digital platform, the company provides
developers, operators, asset managers, equipment providers and construction
companies with key data and insights for the development and operations
of offshore wind farms. Among 4C Offshore’s customers are some of the
most active players in the offshore wind industry.
Based in the epicentre for Offshore wind, Lowestoft, UK with 29 employees,
4C Offshore provides data on more than 2,000 offshore wind projects. The
company has recurring revenue streams from a diversified base of almost
350 clients, serving 2,200 users. In 2020, subscription payments for the
company’s data services account for almost 80% of revenues.
"We are pleased to announce 4C Offshore as the first acquisition following
the launch of our New Energy Solutions business earlier this year. The
company carries a strong reputation within the industry for its quality
data that is highly trusted for asset-level decisions. The strengths of
4C Offshore fit perfectly with TGS's ambition to become the leading global
provider of energy data and insights to support decision-making processes
across the energy value chain," commented Kristian Johansen, CEO at
TGS.
"I continue to be extremely proud of what we have achieved at 4C Offshore
in establishing ourselves as a leading provider of market intelligence
and insight to the offshore wind industry and offshore electricity grid
sector. We look forward to working with TGS and the New Energy Solutions
team to enhance our common platform in the renewable energy industry. Last
year renewable electricity sources grew at their fastest rate in two decades,
despite the pandemic. Together with TGS, we expect to grow and improve
upon our services and capitalize on the expected increase in demand for
high quality data and insights on offshore wind,” stated Chris Anderson,
Chairman and CEO at 4C Offshore.
About TGS
TGS provides scientific data and intelligence to companies active in the
energy sector. In addition to a global, extensive and diverse energy data
library, TGS offers specialised services such as advanced processing and
analytics alongside cloud-based data applications and solutions.
About 4C Offshore
4C Offshore is a leading consultancy and market research organization targeting
the offshore energy markets. The company has specialised in providing market
intelligence for the offshore wind industry and offshore electricity sector
as well as consultancy services related to subsea cables.
