Aberdeen shipping firm bought by group based in Switzerland

ABERDEEN-based shipping business North Star has been acquired by international investors amid expectations it will benefit from a surge in offshore windfarm investment.

Partners Group has agreed to buy North Star from the Basalt Infrastructure Partners private equity business for an undisclosed sum.

The deal comes four years after Basalt acquired North Star from Aberdeen-based Craig Group in a deal that market watchers said provided a vote of confidence in the long term potential of the North Sea.

North Star operates the largest fleet of emergency response vessels in Europe. Its 48-strong fleet also includes specialised Service Operations Vessels (SOVs) that can be used to provide transport and accommodation for people working on offshore assets such as wind turbines.

David Daum, Managing Director, Private Infrastructure, Partners Group, said: "North Star represents an excellent opportunity to acquire a leading energy infrastructure services business that is well-positioned to capitalize on the transformative trends driving growth in the offshore wind industry."

North Star has around 1,400 employees. The deal is not expected to result in job losses at the firm.

Partners Group has European headquarters in Switzerland and is listed on the country’s stock exchange.