Belgium-based offshore energy contractor DEME has signed an agreement to acquire all shares of Havfram Wind Holdco from Sandbrook Capital and the Public Sector Pension Investment Board (PSP Investments) in a €900m ($985.2m) deal.
Havfram is a Norwegian offshore wind infrastructure services company that specialises in transport and installation services within the offshore wind sector.
Go deeper with GlobalData
The acquisition will bolster DEME’s capabilities in turbine and foundation installations, aligning with its ambition to expand its market footprint.
The transaction is expected to close by the end of April 2025, subject to customary closing conditions.
Havfram will become part of DEME’s offshore energy segment.
Havfram is constructing two next-generation wind turbine installation vessels, with deliveries scheduled for the fourth quarter of 2025 and early 2026. These vessels are already under contract for the second half of 2026.
The transaction value includes the remaining capital expenditures needed to complete both vessels.
The company, with an order book worth €600m, is set to support the construction of some of the largest offshore wind farms globally from 2026 to 2030. Until the transaction is finalised, Havfram will continue to operate independently.
DEME CEO Luc Vandenbulcke stated: “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.”
In October 2024, DEME secured a contract to transport and install inter-array cables and secondary steel for the OranjeWind offshore wind farm in the Netherlands.
