Havfram Sold to DEME in Strategic Move
Deal News | Apr 09, 2025 | PR Newswire Cision Investissements PSP
Sandbrook Capital, a private investment firm focused on climate infrastructure companies, and Canada's Public Sector Pension Investment Board (PSP Investments) have announced the sale of Havfram, an international offshore wind infrastructure company, to DEME, a global leader in offshore wind and marine engineering. Sandbrook Capital and PSP Investments established Havfram in 2021 to cater to the growing demand for offshore wind installations, and the company has quickly become a renowned operator in the industry. The transaction is valued at approximately €900 million and is expected to close by the end of April 2025. Financial advisory was provided by Goldman Sachs, and legal advice by Thommessen. The acquisition by DEME aims to accelerate the deployment of offshore wind energy globally. Sandbrook Capital and PSP Investments expressed pride in their collaboration and the success achieved with Havfram. Havfram's CEO, Ingrid Due-Gundersen, expressed enthusiasm about combining forces with DEME, emphasizing their shared mission in global energy transition.
Sectors
- Renewable Energy
- Private Equity and Investment Management
- Marine Engineering
Geography
- Norway – Havfram is a Norwegian company specializing in offshore wind infrastructure, making Norway a key geography.
- Canada – PSP Investments, a Canadian pension investment manager, is a key participant in the transaction.
- Belgium – DEME, the acquiring company, is based in Belgium.
Industry
- Renewable Energy – The sale of Havfram, a company specializing in offshore wind infrastructure, aligns directly with the renewable energy industry’s efforts to enhance global energy transition.
- Private Equity and Investment Management – Sandbrook Capital and PSP Investments are major players in investment management, facilitating transactions like the sale of Havfram to enhance portfolio value.
- Marine Engineering – Havfram’s operations include marine installations for offshore wind projects, linking the transaction to the marine engineering sector.
Financials
- €900 million – Estimated transaction value for the sale of Havfram.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Havfram | Target | Company | A Norwegian offshore wind infrastructure company. |
| Sandbrook Capital | Seller | Company | A private investment firm focused on creating climate infrastructure companies. |
| PSP Investments | Seller | Company | The Public Sector Pension Investment Board, a major Canadian pension investment manager. |
| DEME | Buyer | Company | A Belgian company, leader in offshore wind and marine engineering. |
| Goldman Sachs | Financial Advisor | Company | Provided financial advisory services for the transaction. |
| Thommessen | Legal Advisor | Company | Provided legal advisory services for the transaction. |
| Christopher Hunt | Partner | Person | A partner at Sandbrook Capital involved in the transaction. |
| Sandiren Curthan | Director | Person | Director General and Global Head of Infrastructure Investments at PSP Investments. |
| Ingrid Due-Gundersen | CEO | Person | Chief Executive Officer of Havfram. |