Havfram Acquired by Industry Leader DEME in €900 Million Deal
Deal News | Apr 09, 2025 | PR Newswire Cision PSP Investments
Sandbrook Capital and the Public Sector Pension Investment Board (PSP Investments) have announced the sale of their jointly owned offshore wind infrastructure company, Havfram, to DEME, an international leader in offshore energy and marine engineering. Havfram, established in 2021 through this strategic partnership, has rapidly grown to become a key player in the offshore wind installation sector, possessing two cutting-edge wind turbine installation vessels in construction and a robust project backlog. The transaction, valued at approximately €900 million, is expected to close by the end of April 2025, pending customary conditions. Goldman Sachs and Thommessen served as financial and legal advisors, respectively, to Sandbrook Capital and PSP Investments during the transaction. This acquisition by DEME is anticipated to enhance their capacity to accelerate the deployment of offshore wind energy globally, a mission shared by Havfram. The planned merger represents a continuation of strategic investments in sustainable energy assets by all involved parties.
Sectors
- Renewable Energy
- Private Equity
Geography
- Norway – Havfram is based in Norway, making it a key geographical focus in the article.
- Canada – PSP Investments, one of the major parties involved in the transaction, is based in Canada.
- Belgium – DEME, the acquiring company, is an international leader in the renewable energy sector based in Belgium.
Industry
- Renewable Energy – The article revolves around the acquisition of Havfram, a company that specializes in offshore wind infrastructure, indicating its relevance to the renewable energy industry.
- Private Equity – Sandbrook Capital and PSP Investments are involved in private equity transactions, having invested in and subsequently sold Havfram as part of their investment strategy.
Financials
- €900 Million – The transaction value for the sale of Havfram to DEME.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Havfram | Target company | Company | Havfram is a Norwegian company specializing in offshore wind infrastructure, being sold to DEME. |
| Sandbrook Capital | Selling Company | Company | A private equity firm focused on building climate infrastructure businesses, co-owner of Havfram. |
| PSP Investments | Selling Company | Company | One of Canada's largest pension investment managers, co-owner of Havfram. |
| DEME | Buying Company | Company | A Belgian company and global leader in the offshore energy sector, acquiring Havfram. |
| Goldman Sachs | Financial Advisor | Company | Acted as financial advisor to Sandbrook Capital and PSP Investments for the transaction. |
| Thommessen | Legal Advisor | Company | Provided legal advice to Sandbrook Capital and PSP Investments during the transaction. |