Leading international law firm Addleshaw Goddard has advised H2 Equity Partners (H2) on its significant investment in Motive Offshore Group (Motive), which specialises in inspection, rental and engineering of equipment for the energy sector.
Motive, which is headquartered in Aberdeenshire with additional facilities in Aberdeen, Blyth, Houston, Stavanger, Taiwan and the UAE, has more than doubled its business within a three-year period, reaching close to 60% of sales in the renewable market. The deal will support the international growth plans and ambition of Motive to generate in excess of 75% of revenue from renewables by 2025.
H2’s international operating experience, collaborative approach and strong track record in supporting ambitious, founder-owned businesses, will enable Motive to accomplish its next stage of sustainable and rapid growth, where it will continue to accelerate its energy transition.
Patrick Kalverboer, Managing Partner of H2 Equity Partners, adds: “We’re excited to invest in Motive and support Dave Acton and his team to deliver an exciting and ambitious growth strategy. In particular, we see a significant opportunity for the business to leverage its best-in-class offering to accelerate its growth globally and build its share in renewables.”
The AG team advising on the deal led by Laura Falls and David Kirchin, supported by James Woodward, Maeve Wright and Yavor Georgiev.
Laura Falls said: "The energy transition is vital for the economy in the UK and beyond and businesses such as Motive have a big part to play in that transition. This investment will help the business continue its impressive growth trajectory and we were delighted to work with H2 Equity Partners on such an exciting transaction for both parties."