DEME has signed an agreement to acquire Havfram, an international offshore wind contractor based in Norway, according to the company's release.
The transaction aligns with DEME's strategy to expand its presence in the offshore wind energy market and strengthen its position in turbine and foundation installations.
Luc Vandenbulcke, CEO of DEME, 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.”
The transaction, valued at approximately €900 million, includes the acquisition from Sandbrook Capital and PSP Investments, as well as remaining capital expenditures to complete the two vessels. DEME Offshore Holding NV, a fully owned subsidiary of DEME Group NV, will acquire all shares in Havfram Wind Holdco AS.
Subject to customary closing conditions, the deal is expected to close by the end of April 2025, after which Havfram will be integrated into DEME’s Offshore Energy segment. DEME will finance the transaction using a mix of external financing and internal resources. Until the transaction closes, Havfram will operate as a separate entity.
DEME is a contractor operating in offshore energy, environmental remediation, dredging, and marine infrastructure. The company also participates in concessions related to offshore wind, marine infrastructure, green hydrogen, and deep-sea mineral harvesting. With nearly 150 years of experience, DEME focuses on innovation and new technologies. Headquartered in Zwijndrecht, Belgium, it employs over 5,800 professionals and operates a large fleet of specialized vessels. In 2024, DEME reported a turnover of €4.1 billion and an EBITDA of €764 million.
Havfram is a Norwegian company providing transport and installation services for the offshore wind sector. Based in Oslo, it employs approximately 50 people and specializes in operating Wind Turbine Installation Vessels (WTIVs). Majority-owned by Sandbrook Capital and PSP Investments, Havfram is building two next-generation WTIVs, set for delivery in 2025 and 2026. The company has an orderbook of around €600 million, supporting major offshore wind projects from 2026 to 2030.