Apollo to Acquire Majority Stake in Energy Services Provider OEG

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Apollo to Acquire Majority Stake in Energy Services Provider OEG

, MT Newswires - 2:53 PM ET 3/19/2025 mergers-and-acquisitions

02:53 PM EDT, 03/19/2025 (MT Newswires) -- Apollo Global Management ( APO ) agreed to acquire a majority stake in OEG Energy Group from Oaktree Capital Management and other investors in a deal that values the offshore energy services provider at more than $1 billion.

Oaktree and other OEG investors will keep a minority stake in the UK-based company, which owns and operates one of the world's largest fleets of cargo carrying units, alternative asset manager Apollo said Wednesday.

The transaction is expected to complete in the second quarter, subject to regulatory clearance.

"We see a tremendous opportunity to invest in (OEG's) future growth as secular tailwinds drive demand for services enabling efficient energy production and renewable power," said Wilson Handler, a partner at Apollo. "Bringing to bear the scale of Apollo's integrated platform and deep expertise in energy services, we look forward to working with the talented team at OEG to unlock value for its various stakeholders and loyal customer base via organic and inorganic channels."

Shares of Apollo jumped 5% in Wednesday afternoon trade, trimming its year-to-date loss to about 12%.

"As energy producers across Europe and around the globe continue to invest in energy transition, we are committed to expanding and enhancing our capabilities as a key partner," OEG Chief Executive John Heiton said. "We look forward to working with Apollo as we enter this new and exciting chapter for our business."

OEG's more than 75,000 cargo carrying units facilitate the transportation of essential cargo to and from offshore energy installations. The company also offers services to the offshore wind industry.

"We continue to have strong conviction in OEG's growth trajectory and are thrilled to maintain a minority interest alongside Apollo funds," said Francesco Giuliani, managing director and assistant portfolio manager in Oaktree's Power Opportunities strategy.

Price: 144.27, Change: +6.83, Percent Change: +4.97

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