BGF’s first investment in a business located in the East of England was in energy-focused firm 3sun Group, a specialist provider of products and services to the global energy industry.
Founded in 2007 by Graham Hacon, 3sun Group operates in the offshore wind and oil and gas sectors. It is an established service provider to offshore wind farms, providing installation, inspection and maintenance services. In oil and gas, 3sun manufactures, installs and maintains control panels for offshore subsea and topside applications.
3sun Group secured the £10m BGF funding following six years of consistent growth. The Group has continued to grow rapidly, now employing 240 people and 31 apprentices across its headquarters in Great Yarmouth, and its bases in Aberdeenshire, Bergen, Norway, Lubeck, Germany and Esbjerg, Denmark. The Group is on track to deliver revenue in excess of £30m in the current year.
The investment of growth capital from BGF, alongside the appointment of Les Dawson, former CEO of Southern Water and Chairman of Murphy Group, as non-executive Chairman, has supported 3sun Group’s plans to accelerate expansion in its Great Yarmouth base and advance further opportunities in the UK and northern Europe. The group have also recruited an experienced COO and in 2015 completed the acquisition of AID Training, further enhancing their leading training capability.
3sun Group is well placed to benefit from strong growth dynamics in its target markets. The offshore wind market is forecast to grow dramatically, both in the UK as maintenance contracts become available for Round 2 turbines and Round 3 construction commences, and in northern Europe.