DEME  has signed an agreement to acquire Norwegian offshore wind contractor Havfram, in a strategic move to strengthen its position in the global offshore wind market. The deal, valued at approximately €900 million ($994 million), includes the acquisition of shares from Sandbrook Capital and the Public Sector Pension Investment Board (PSP Investments), as well as remaining capital expenditures for two under-construction wind turbine installation vessels.

Headquartered in Oslo, Havfram specializes in offshore wind transport and installation and employs around 50 people. Its two next-generation vessels, expected to be delivered in late 2025 and early 2026, are already contracted for projects starting in the second half of 2026. Havfram currently holds an orderbook worth approximately €600 million ($662.9 million), supporting major wind farm developments through 2030.

Luc Vandenbulcke, CEO of DEME, stated that the acquisition enhances DEME’s turbine and foundation installation capabilities, and will integrate seamlessly with its existing fleet. Following completion, Havfram will operate within DEME’s Offshore Energy segment.

The transaction is expected to close by the end of April 2025, pending customary conditions. Financing will be covered through a mix of internal resources and external funding.

Source: deme-group.com