Belgian offshore energy company DEME has announced the acquisition of Norwegian offshore wind contractor Havfram in a strategic move to strengthen its position in the rapidly growing offshore wind sector.
The deal, valued at around 900 million euros, includes the purchase of Havfram from private equity firm Sandbrook Capital and Canadian pension fund PSP Investments.
It also covers the remaining capital expenditure for two state-of-the-art wind turbine installation vessels (WTIVs) currently under construction.
Boosting DEME’s offshore wind capabilities
Headquartered in Oslo, Havfram specializes in transport and installation services for the offshore wind industry. The company, which employs around 50 people, has already secured contracts worth approximately 600 million euros, covering projects from 2026 to 2030. Its two next-generation WTIVs, set for delivery in late 2025 and early 2026, will be among the most advanced in the market.
For DEME, the acquisition marks a significant step in expanding its offshore wind portfolio and reinforcing its global leadership in turbine and foundation installations.
"This acquisition complements our fleet and will bolster our competitive edge in both turbine and foundation installations", says Luc Vandenbulcke, CEO of DEME. "Havfram's expertise and innovative approach will allow us to deliver even greater value to our customers in the offshore wind industry."
Integration into DEME offshore energy
Following regulatory approval and the expected completion of the transaction by the end of April 2025, Havfram will become part of DEME’s Offshore Energy segment. Until then, Havfram will continue to operate as an independent company.
DEME plans to finance the acquisition through a combination of external financing and internal resources, consistent with its previous investment strategy.
The company emphasized that it will ensure a smooth integration process, maintaining continuity for Havfram’s customers and considering the interests of its employees and stakeholders.
About Havfram and DEME
Founded in Norway, Havfram has emerged as a key player in the offshore wind market, leveraging the backing of climate-focused investors Sandbrook Capital and PSP Investments.
Meanwhile, Belgium-based DEME, listed on Euronext Brussels, is a global leader in offshore energy, dredging, environmental remediation, and marine infrastructure. In 2024, DEME reported revenues of 4.1 billion euros and an EBITDA of 764 million euros, supported by a workforce of over 5,800 professionals.
