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 world 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 top of April 2025, topic to customary closing situations.
Offering offshore wind set up capability
Havfram was established in 2021 by way of a strategic partnership between Sandbrook Capital and PSP Investments to offer important offshore wind set up capability for vitality firms worldwide.
Beneath their possession, Havfram has remodeled right into a top-tier operator of Wind Turbine Set up Vessels (WTIVs).
Presently, two state-of-the-art vessels are beneath 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 immediately,” says Ingrid Due-Gundersen, CEO of Havfram. “We’re extremely excited to affix forces with DEME, a world chief with a shared mission to speed up offshore wind deployment. Collectively, we’ll play a serious position in enabling the vitality transition all over the world.”
With workplaces in London, Sandbrook Capital is a personal funding agency devoted to constructing the subsequent era of local weather infrastructure firms.
“We partnered with PSP Investments to construct Havfram as a result of we noticed a novel market alternative to offer the state-of-the-art vessels required to construct immediately’s monumental offshore wind farms,” says Christopher Hunt, Accomplice at Sandbrook Capital.
“In only a few years, Havfram has develop into one of the vital essential gamers within the offshore wind business. We’re pleased with what the group has achieved and the optimistic monetary returns delivered to our traders. DEME will probably 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 property beneath 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 property important to the renewables worth chain whereas producing sturdy risk-adjusted returns,” says Sandiren Curthan, Managing Director and International Head of Infrastructure Investments at PSP Investments.
“We’re proud to have partnered with Sandbrook Capital and with the Havfram group to construct a fleet of next-generation WTIVs,” provides Curthan.
