DEME announced that it has signed an agreement to acquire Havfram, an international offshore wind contractor based in Norway. 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.
Havfram is a Norwegian offshore wind infrastructure company focused on providing transport and installation services to the offshore wind sector. The company 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.
Havfram is currently building two next-generation wind turbine installation vessels, expected to be delivered in Q4 2025 and early 2026, respectively. Both vessels are already contracted for deployment in the second half of 2026. With an orderbook of approximately €600 million, Havfram will support 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.
Luc Vandenbulcke, CEO of DEME, stated: “DEME’s investment in Havfram underscores our unwavering belief in the immense potential of offshore wind infrastructure as a key element in the global energy transition. This acquisition complements our fleet and will bolster our competitive edge in both turbine and foundation installations, enhancing our operational flexibility and interchangeability. Havfram’s state-of-the-art vessels, equipped to install next-generation turbines and foundations, seamlessly integrate with DEME’s existing fleet. Their expertise and innovative approach will allow us to deliver even greater value to our customers.”
The agreement represents an aggregated transaction value of approximately €900 million, covering the acquisition from Sandbrook Capital and PSP Investments, as well as remaining capital expenditures for the two vessels. DEME Offshore Holding NV (a 100% subsidiary of DEME Group NV) will acquire all shares in Havfram Wind Holdco AS. Subject to customary closing conditions, 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 will finance the transaction through a combination of external financing and internal resources, consistent with its previous investments.