DEME has signed an agreement to acquire Norway-based Havfram, an international offshore wind infrastructure company focused on providing transport and installation services to the offshore wind sector.
Havfram is primarily owned by Sandbrook Capital, a private investment firm focused on climate infrastructure, and the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors.
"This strategic acquisition aligns with DEME's ambition to expand its footprint in the offshore wind energy market and enhances its competitive positioning in turbine and foundation installations," said DEME.
Havfram is currently building two next generation wind turbine installation vessels. 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.
Havfram already has an orderbook of approximately 600 million euros (US$660 million), and this includes support for the construction of some of the world’s largest offshore wind farms from 2026 to 2030. The company employs around 50 people and is headquartered in Oslo, Norway.
The agreement represents an aggregated transaction value of approximately 900 million euros, encompassing the acquisition from Sandbrook Capital and PSP Investments, as well as, among others, the remaining capital expenditures needed to complete both vessels.
Under the terms of the agreement, DEME Offshore Holding (a 100 per cent subsidiary of DEME Group) will acquire all of the shares in Havfram Wind Holdco. The transaction 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 would finance this transaction in line with its previous investments, using a combination of external financing and internal resources.