TGS acquires UK-based marine consultants 4C Offshore
TGS-NOPEC Geophysical Company (TGS), a Norway-based energy data and intelligence provider, has acquired 4C Offshore, a market intelligence and consultancy firm that caters to the offshore wind industry with research and insights.
Based in the UK, 4C Offshore, through its digital platform, offers developers, operators, asset managers, equipment providers and construction firms with key data and insights for developing and operating offshore wind farms.
Kristian Johansen – CEO at TGS said: “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’ ambition to become the leading global provider of energy data and insights to support decision-making processes across the energy value chain.”
4C Offshore offers data on 2,000 plus offshore wind projects.
The company is said to have recurring revenue streams from a diversified base of nearly 350 clients, catering to 2,200 users. Last year, the firm’s subscription payments for data services made up nearly 80% of revenues.
Chris Anderson – Chairman and CEO at 4C Offshore said: “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.”