Norway-based provider of services to the energy sector Føn Energy Services has announced the acquisition of Dutch offshore wind farm services company C-Ventus.
C-Ventus offers installation support, decommissioning services and balance of plant services for both topside and subsea equipment.
Headquartered in the Netherlands, the company leverages a network of 350 field technicians with more than 12 years of experience.
C-Ventus has contributed to 25 offshore wind farms in regions including the UK, Germany, the Netherlands and Belgium, serving clients including Eneco, RWE, Shell, TenneT, Vattenfall and Vestas.
Føn Energy Services is obtaining 100% of C-Ventus shares from DISA International.
DISA International is a marine engineering, civil construction and offshore oil and gas services provider.
DISA International will continue to hold a 22.67% stake in the Class A shares of Føn Energy Services.
DISA managing director Didier de Graaff will join Føn's board of directors.
The move establishes Føn as a major European operations and maintenance (O&M) player in the offshore wind sector.
Føn has been providing O&M services for the offshore market for three decades and employs 90 people in Germany, Denmark, Sweden and Norway.
Føn is backed by Norway's IKM industrial group and Akastor, an industrial investment corporation listed in Oslo.
Akastor and IKM will each control 38.67% of the Class A shares. The financial details of the deal were not disclosed.
Føn CEO Torben Hald stated: “Combining a strong presence in the North Sea and the financial muscles of Føn Energy Services with C-Ventus’ European track record and scalable operating model with in-house project management and engineering, enables us to strengthen our integrated service model and deliver cost-efficient O&M service operators across Europe.”
Didier de Graaff stated: “Our joint plan is to take C-Ventus’ well-proven and highly efficient O&M operating model, apply it to Føn Energy Services and use it as a catalyst for geographical expansion to the rest of Europe.
“Our business model enables us to scale up our business substantially without incurring unnecessary costs for our clients. We look forward to building an even stronger O&M player together with Føn Energy Services.”
C-Ventus will be rebranded and operate under the Føn Energy Services name.
The acquisition is part of a broader mergers and acquisitions strategy to consolidate and professionalise the O&M segment of the offshore wind value chain.
Føn plans to adopt and expand C-Ventus’ operating model across the North Sea and other parts of Europe, with support from its owners' industrial expertise and customer networks.
