DEME has signed an agreement to acquire Havfram, a Norwegian offshore wind contractor.
This acquisition aligns with DEME’s ambition to expand its presence in the offshore wind energy market.
Havfram is an offshore wind infrastructure services company that is owned by Sandbrook Capital and the Public Sector Pension Investment Board (PSP Investments).
Havfram is building two next-generation wind turbine installation vessels, expected to be ready by late 2025 and early 2026. Havfram has an orderbook of approximately 600 million euro, which will occur from 2026 to 2030. Havfram employs around 50 people and is headquartered in Oslo, Norway.
DEME’s investment in Havfram underscores our unwavering belief in the immense potential of offshore wind infrastructure as a key element in the global energy transition. This acquisition complements our fleet and will bolster our competitive edge in both turbine and foundation installations, enhancing our operational flexibility and interchangeability, and strengthening DEME’s leadership position in the industry. Havfram’s state-of-the-art vessels are equipped to install the next generation of turbines and foundations, seamlessly integrating with DEME’s existing fleet. Havfram’s expertise and innovative approach will complement our strengths and capabilities, allowing us to deliver even greater value to our customers in the offshore wind industry,
Luc Vandenbulcke, CEO of DEME stated.
The agreement represents a transaction value of approximately 900 million euros.
This money will be used to acquire Sandbrook Capital and PSP Investments, as well as for the remaining capital expenditures of both vessels.
DEME Offshore Holding NV will acquire all of the shares in Havfram Wind Holdco AS.
The transaction is expected to close by the end of April 2025.
Following completion, Havfram will be integrated into DEME’s Offshore Energy segment.
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