Myton Law advises Dalby Offshore Services on offshore wind farm support vessel acquisition

We are pleased to have advised Dalby Offshore Services on the purchase of the latest addition to its fleet of offshore wind farm support vessels. Dalby has purchased a Damen built twenty five metre high speed twin axe vessel capable of carrying up to twenty four passengers from the Australian based Bhagwan group to take its fleet of wind farm support vessels to ten.

The vessel, which has been named "Dalby Ribble", will be registered in Whitby and is well placed to take advantage of an expected upturn in demand for wind farm support vessels from the UK offshore wind industry over the next 12 months and beyond.

The transaction, which had a deal value of in excess of £2.5 million, involved various additional complexities largely due to the foreign origin and flag of the vessel. The Myton Law team of James Westwood, Sue Hales and Scott Yates worked closely with the Dalby team and the various other stakeholders involved over a three month period and advised on the legal structure of the transaction generally, negotiated the transaction documents and advised on issues related to finance, security and registration. The transaction successfully completed on 11 August.

Stuart McNiven, owner and MD of Dalby Offshore Services said "We are highly delighted with the acquisition of the Dalby Ribble, a deal of 6 months in the making. We appreciate the support the Myton team have given to Dalby over this time and their assistance to other stakeholders involved in the transaction. We therefore have no hesitation in recommending Myton."

We are delighted to have helped Dalby in its latest step in expanding its ever growing fleet and particularly to have played a role in a significant transaction for the offshore wind industry in the region, an industry which has growing importance for the Humber. We wish the Dalby Ribble a long and prosperous future and look forward to assisting Dalby again in the future.