Belgian marine services and dredging group DEME is expanding its footprint in the offshore wind sector with the acquisition of Norway-based contractor Havfram.
The deal, worth around €900m ($995m), involves stakes held by private investment firm Sandbrook Capital and Canadian pension fund PSP Investments, as well as, among others, the cost needed to complete two wind turbine installation vessels (WTIVs) under construction in China.
The transaction is expected to close by the end of April this year.
Havfram, formerly Ocean Installer, is currently building a fleet that is described as one of the world’s most advanced WTIVs at CIMC Raffles in China. The first vessel is scheduled for delivery in the fourth quarter of 2025, with the second newbuild joining the fleet in early 2026.
The Oslo-based company counts around 50 employees and has an orderbook of about €600m.
“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,” said Luc Vandenbulcke, CEO of DEME.
