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Developing an understanding of the mooring market
Business profile
Global offshore wind services group based in the UK
Capabilities include geosciences, engineering, bespoke offshore equipment delivery and installation services.
Offering management support, infrastructure and capital to fuel the growth of its member companies and enhancing the integrated capabilities of specialist service providers.
Support recieved
Business Transformation
Solutions for the offshore wind industry
Venterra provide a range of services to developers and tier one contractors across the lifecycle of offshore wind
Their approach enables specialist service providers to improve their operational efficiency and market reach, fostering collaboration and innovation
Venterra aims to address the industry’s scalability challenge by continuing to acquire supply chain companies and leveraging their collective capabilities across domestic and international markets
A closer look at the mooring market
Venterra sought external support through the WEST programme to deepen their understanding of market demands in the offshore wind sector and assess the commercial potential of various products and services, specifically the development and commercialisation of anchor systems for floating offshore wind. Through this support, Venterra hoped to identify the right type of product mix and services to target for acquisition and which to develop in-house.
Ultimately, their goal was to gain a broader understanding of mooring solutions market, competing products, market size and the expected commercial landscape to better inform their acquisition strategy and business development initiatives.
Through the WEST Programme, Venterra received bespoke consultancy on market intelligence, market positioning and business development strategies
Impact of the support
Acquired two new companies and created 160 new jobs
Increased forcasted Revenue by 60+% to circa £150 million
Substantial increase in exports
Before
Before engaging with OWGP, Venterra had already established itself as a global leader in offshore wind services, with eight member companies providing consultancy, engineering, project management, services and specialist equipment. Seeking to expand its product and service offerings and strengthen its position, Venterra sought OWGP’s support to identify which commercially viable products it should invest in developing and which companies to target for acquisition.
During
After assessing Venterra’s needs, OWGP paired them with BVG, a delivery partner with expertise in supporting larger companies and a previous working relationship with Venterra. It soon became clear that Venterra was particularly interested in the possible development of anchor systems for floating offshore wind but required insights into the mooring systems market.
BVG leveraging its expertise, provided Venterra with a comprehensive and detailed market analysis, which not only highlighted existing solutions, competitors, and emerging innovations but also provided a deep understanding of the market dynamics. They also advised Venterra on forming strategic partnerships, ensuring they were well-prepared for market entry and product procurement. BVG’s creation of a scoring framework further enhanced Venterra’s understanding, guiding them in identifying technically viable and commercially promising anchor systems for their product development strategy.
After
Following the completion of WEST, Venterra has achieved significant growth and market expansion. Their turnover surged to £86 million, and their workforce nearly doubled to 490 employees. The intelligence provided by their WEST delivery partner, BVG Associates, has also contributed to refining Venterra’s acquisition strategy and enhancing its business development efforts. Since completing WEST, Venterra has acquired, CAPE Holland, a leading player in pile installation for wind farms with 60 employees and are in the late stages of acquiring a group of companies that complement its service offerings.
The support helped Venterra address gaps in the UK offshore wind supply chain and enhance their capability and market positioning of anchor systems for floating offshore wind. Venterra is currently exploring the development of a new type of anchor, leveraging insights from the comprehensive market survey conducted through the OWGP WEST Programme. Their aim to introduce cutting-edge anchor solutions underscores Venterra’s deep commitment to innovation and proactive approach in addressing evolving market demands as a forward-thinking leader in the offshore wind market.
“The support we have received to date through the WEST programme has supported the acceleration of our growth in the offshore wind sector. The expert guidance and tailored business support has enhanced our market understanding, enabling us to better meet the demands of our clients and the wider industry.”
