SHV considers potential divestment of Eriks and Mammoet

General – Eriks and Mammoet for Sale

SHV has decided to explore a potential divestment of Eriks and Mammoet from the Netherlands.

This is the result of the regular strategy update process where SHV, amongst others, reviews the composition of SHV overall, and had to come to the conclusion that supporting all eight Groups simultaneously in realising their full potential and ambitions is not the best way forward.

SHV believes that both ERIKS and Mammoet under a new owner will have this opportunity.

Eriks has successfully concluded the first phase of its Fuel for Growth programme and its sales and profits are steadily improving while there is still a lot of potential for additional growth. With a new owner,  ERIKS may not only focus on growing the existing business but also on acquisitions.

Mammoet has been part of the SHV family since 2006 and has proven to be a strong and successful company, active in over 45 countries. To allow Mammoet to continue its growth strategy, SHV is devoted to find a new owner that is committed to make the required investments, employ Mammoet’s people to their full potential and foster the strong entrepreneurial spirit that so much defines the global leader in heavy lifting and transport. In the coming years, the company intends to invest in high-capacity equipment that will be put to work in support of the global energy transition, in particular offshore wind.

“It has become clear that offering support in the best possible way to eight groups cannot be done in the way we would like to. That does not mean the decision to potentially divest Eriks and Mammoet has been taken lightly. They have been a valued member of the SHV Family for many years and it is with regret that we have to let them go. What is now most important for SHV is to make sure we find a new owner that is committed in supporting Eriks and Mammoet and our colleagues in this next step. We all strongly feel this obligation and will be part of every decision in the process,” says Jeroen Drost, CEO of SHV.

Original Source: https://ocean-energyresources.com/2023/03/14/shv-considers-potential-divestment-of-eriks-and-mammoet/