Apollo (APO) to Acquire OEG

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Go back to Apollo (APO) to Acquire OEG

Apollo Funds to Acquire OEG, a Leading Provider of Core Services to the Offshore Energy Industry

March 19, 2025 9:00 AM EDT

LONDON and NEW YORK, March 19, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the Apollo funds) have agreed to acquire a majority stake in OEG Energy Group (OEG or the Company), a leading offshore energy solutions business, from funds managed by the Power Opportunities strategy of Oaktree Capital Management, LP (Oaktree) and other investors. The transaction implies a headline valuation of more than $1 billion for OEG, and Oaktree and others will retain a minority equity interest in the Company.

OEG is a scaled provider of core services across the offshore... More