DEME is to acquire Norwegian offshore wind contractor Havfram in a bid to expand its global offshore wind energy operations.
The transaction, valued at around €900 million, includes the full acquisition of Havfram Wind Holdco from its current owners, Sandbrook Capital and the Public Sector Pension Investment Board.
“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,” said Luc Vandenbulcke, chief executive of DEME.
“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.”
Based in Oslo with 50 employees, Havfram provides transport and installation services for offshore wind infrastructure. With two next-generation wind turbine installation vessels currently under construction and due for delivery in late 2025 and early 2026, the company already has contracts secured from the second half of 2026.
Its order book stands at around €600 million, supporting the development of some of the world’s largest offshore wind farms through to 2030.
“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,” said Vandenbulcke.
The acquisition will see Havfram integrated into DEME’s Offshore Energy segment and is expected to close by the end of April 2025, pending regulatory approvals.
DEME will fund the acquisition using a mix of internal resources and external financing in line with its previous investment strategies.
