Sandbrook Capital and the Public Sector Pension Funding Board (PSP Investments) have signed an settlement to promote Havfram, a Norwegian offshore wind infrastructure firm, to DEME, a worldwide chief in offshore vitality and marine engineering.
Based mostly out of Beveren-Kruibeke-Zwijndrecht, Belgium, DEME is a contractor within the fields of offshore vitality, dredging & infra, environmental remediation, trenching, and marine infrastructure.
DEME additionally engages in concession actions in offshore wind, marine infrastructure, inexperienced hydrogen, and deep-sea mineral harvesting.
The transaction is valued at roughly €900M and is predicted to shut by the tip of April 2025, topic to customary closing situations.
Offering offshore wind set up capability
Havfram was established in 2021 by means of a strategic partnership between Sandbrook Capital and PSP Investments to supply important offshore wind set up capability for vitality corporations worldwide.
Below their possession, Havfram has reworked right into a top-tier operator of Wind Turbine Set up Vessels (WTIVs).
At the moment, two state-of-the-art vessels are underneath development, and the corporate has a backlog of contracts to construct among the largest offshore wind farms.
“The help and long-term imaginative and prescient of Sandbrook Capital and PSP Investments have been instrumental in constructing Havfram into what it’s as we speak,” says Ingrid Due-Gundersen, CEO of Havfram. “We’re extremely excited to affix forces with DEME, a worldwide chief with a shared mission to speed up offshore wind deployment. Collectively, we are going to play a serious position in enabling the vitality transition around the globe.”
With workplaces in London, Sandbrook Capital is a personal funding agency devoted to constructing the subsequent technology of local weather infrastructure corporations.
“We partnered with PSP Investments to construct Havfram as a result of we noticed a singular market alternative to supply the state-of-the-art vessels required to construct as we speak’s monumental offshore wind farms,” says Christopher Hunt, Companion at Sandbrook Capital.
“In only a few years, Havfram has grow to be one of the vital vital gamers within the offshore wind business. We’re happy with what the workforce has achieved and the constructive monetary returns delivered to our traders. DEME can be an impressive steward of the corporate in its subsequent section of development,” provides Hunt.
PSP Investments: Canada’s largest pension traders
The Public Sector Pension Funding Board (PSP Investments) is considered one of Canada’s largest pension traders, with C$264.9B of internet belongings underneath administration as of 31 March 2024.
It manages a diversified world portfolio composed of investments in capital markets, non-public fairness, actual property, infrastructure, pure sources, and credit score investments.
“Our funding in Havfram displays our broader capabilities and dedication to spend money on belongings important to the renewables worth chain whereas producing robust risk-adjusted returns,” says Sandiren Curthan, Managing Director and World Head of Infrastructure Investments at PSP Investments.
“We’re proud to have partnered with Sandbrook Capital and with the Havfram workforce to construct a fleet of next-generation WTIVs,” provides Curthan.
