LATEST NEWS: DEME signs agreement to acquire Havfram   

General – Acquisition

DEME announced today that it has signed an agreement to acquire Havfram, an international offshore wind contractor based in Oslo, Norway.

This strategic acquisition is in line with DEME’s ambition to expand its presence in the offshore wind energy market and strengthens its competitive position in turbine and foundation installation.

Havfram is primarily owned by Sandbrook Capital, a private investment firm focused on climate infrastructure, and the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors.

Havfram is currently building two next-generation wind turbine installation vessels. Both vessels, under construction and expected to be delivered in the fourth quarter of 2025 and early 2026 respectively, are already contracted as of the second half of 2026.

The company already has an orderbook of approximately 600 million euro, and this includes support for the construction of some of the world’s largest offshore wind farms from 2026 to 2030.

“DEME’s investment in Havfram underlines our unwavering belief in the immense potential of offshore wind infrastructure as a key element of the global energy transition. This acquisition complements our fleet and will strengthen our competitive edge in both turbine and foundation installation, increasing our operational flexibility and interchangeability and reinforcing 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 and will integrate seamlessly 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,” said Luc Vandenbulcke, CEO of DEME.

The agreement represents a total transaction value of approximately €900 million, including the acquisition by Sandbrook Capital and PSP Investments, as well as the remaining capital expenditure required to complete the two vessels. Under the terms of the agreement, DEME Offshore Holding NV (a wholly owned subsidiary of DEME Group NV) will acquire all shares in Havfram Wind Holdco AS.

The transaction, which is subject to customary closing conditions, is expected to close by the end of April 2025. Following completion, Havfram will be integrated into DEME’s Offshore Energy segment.

DEME will finance this transaction in line with its previous investments, using a combination of external financing and internal resources.

DEME is dedicated to ensuring a seamless transition that prioritizes the continuity of activities for all Havfram customers, while carefully considering the needs of employees and stakeholders.

Until the closing of the transaction, Havfram remains a separate company conducting business as usual.

Original Source: https://ocean-energyresources.com/2025/04/09/latest-news-deme-signs-agreement-to-acquire-havfram/