ANNOUNCEMENT OF FIRST RESERVE AS A STRATEGIC INVESTOR AND APPOINTMENT OF ALEX KRUEGER TO BOARD
Venterra Group Plc, the offshore wind energy services business, today announces that First Reserve has participated as a strategic investor in its third funding round since formation in early 2021. First Reserve is a leading global private equity investment firm exclusively focused on industrial, infrastructure, and energy businesses.
Venterra was formed to create a global services champion supporting the offshore wind industry’s rapid expansion and leading role in the energy transition. It is building a service offering across the windfarm lifecycle by a combination of acquisition and investment to generate accelerated growth in the fast-growing market.
To represent First Reserve’s interest in Venterra and support its growth, Alex T. Krueger has been appointed to Venterra’s board as a Non-Executive Director with immediate effect. Mr. Krueger is President and Chief Executive Officer and joined First Reserve in 1999. He is responsible for the overall management of the firm and sits on its Investment Committees, which are responsible for the supervision of the firm’s investment program and strategy. Prior to joining First Reserve, Mr. Krueger worked in the Energy group of Donaldson, Lufkin & Jenrette in Houston. Mr. Krueger holds two B.S. degrees from the University of Pennsylvania.
Ayman Asfari, Executive Chairman, said:
‘First Reserve is an ideal strategic partner to help grow Venterra. It has a long track record of investing in the energy sector and shares our vision to build a strong industrial company able to play a meaningful role in the growth of offshore wind energy. Alex will be a further strong addition to our highly experienced board and we’re delighted he is joining.’
Alex Krueger, President and Chief Executive Officer, First Reserve, said:
‘Venterra has exactly the investment profile of companies we want to back: an accomplished and entrepreneurial management team creating a platform in an industry facing steep demand growth. We are honored to support Ayman and his team, and we look forward to working together to successfully drive a value creation opportunity for all stakeholders.’
James Bradley, Director of Corporate Affairs +44 (0) 20 3154 6353
Notes to Editors
Venterra Group Plc was formed in 2021 by Ayman Asfari and colleagues to create a global services champion supporting the offshore wind industry’s rapid expansion and leading role in the energy transition. Venterra’s mission is to service wind energy developers globally with best-in-class engineering, construction and operations services, through acquiring and partnering with asset light and differentiated providers with an entrepreneurial culture and technological drive.
For further information please see www.Venterra-group.com