#Norway #Oslo #PSP Investments #Havfram #DEME

Overview

In a historic move within the renewable energy sector, Sandbrook Capital and PSP Investments have signed a deal to sell Havfram, an international offshore wind installation company, to DEME Group. This strategic acquisition underscores the growing importance of renewable energy infrastructure as global energy demands shift toward sustainable practices.

The Transaction Details

The agreement, announced on April 9, 2025, marks a significant transition for Havfram, which has quickly established itself as a key player in offshore wind installation since its inception in 2021. Under the joint ownership of Sandbrook Capital and PSP Investments, Havfram has developed advanced Wind Turbine Installation Vessels (WTIVs) and built a strong order book, positioning itself for continued growth in the offshore wind sector. The deal, valued at approximately €900 million, is set to close by the end of April 2025, pending typical closing conditions.

Significance of the Sale

Christopher Hunt, a partner at Sandbrook Capital, highlighted the unique market opportunity that led to the establishment of Havfram, pointing out the need for state-of-the-art vessels required for the large-scale offshore wind farms of today. Havfram's innovative approach and commitment to excellence have resulted in it becoming a vital component in the transition to renewable energy.

Havfram's CEO, Ingrid Due-Gundersen, expressed enthusiasm about the merger, noting that DEME's leadership in marine engineering aligns perfectly with Havfram's mission to enhance offshore wind deployment. This alignment is crucial as the world accelerates its energy transition efforts, aiming for more sustainable energy sources.

Industry Impact

This sale is expected to not only bolster DEME's capabilities within the offshore wind market but also emphasize the importance of partnerships in the renewable energy space. As investment firms like Sandbrook Capital and PSP Investments lean into funding infrastructure that supports climate initiatives, the synergy created through this acquisition could lead to significant advancements in offshore wind technology and deployment.

DEME, being a global leader in offshore energy and marine engineering, is poised to continue Havfram's trajectory of growth and innovation. The combination of DEME’s established reputation and Havfram’s cutting-edge capabilities indicates a strong future in offshore wind energy, which is vital for meeting global renewable energy targets.

Conclusion

The sale of Havfram to DEME illustrates the ongoing evolution of the offshore wind industry and the critical investments being made to facilitate a greener future. As countries worldwide strive to meet their climate goals, partnerships between infrastructure developers and financing institutions will be instrumental in fostering rapid advancements in renewable technologies. The acquisition stands as a testament to the increasing momentum in sustainable energy and the role of key players like Sandbrook Capital, PSP Investments, and DEME in shaping the future of offshore wind energy.