DEME has signed an agreement to acquire Norwegian turbine installation contractor Havfram for around €900m.
The Belgian marine outfit said the deal with current owners Sandbrook Capital and PSP Investments aligns with its ambition to expand in offshore wind and enhances its position in turbine and foundation installation.
The transaction, which is subject to customary closing conditions, is expected to close by the end of April 2025. Following completion, Havfram will be integrated into DEME’s Offshore Energy segment.
DEME said it will finance this transaction in line with its previous investments, using a combination of external financing and internal resources.
The company added it is dedicated to ensuring a “seamless transition that prioritizes the continuity of activities for all Havfram customers, while carefully considering the needs of employees and stakeholders”.
Havfram is currently building two next generation wind turbine installation vessels (pictured). Both vessels, under construction and expected to be delivered in the fourth quarter of 2025 and early 2026 respectively, are already contracted as of the second half of 2026.
The company already has an orderbook of approximately €600m, and this includes support for the construction of some of the world’s largest offshore wind farms from 2026 to 2030.
The Norwegian outfit employs around 50 people and is headquartered in Oslo, Norway. “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, CEO 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.
“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.”