Sandbrook Capital and PSP Investments Announce Sale of Offshore Wind Pioneer Havfram to DEME
- Editor
- 6 days ago
- 2 min read
Whats Happening:
Sandbrook Capital and PSP Investments are selling Havfram, an offshore wind infrastructure company, to DEME for approximately €900 million. Havfram, established in 2021, has grown into a leading operator of Wind Turbine Installation Vessels (WTIVs) with two state-of-the-art vessels under construction and a strong contract backlog. The sale is expected to close by the end of April 2025.
Key Moves:
Sandbrook Capital and PSP Investments sell Havfram to DEME for €900 million
Havfram has evolved into a leading WTIV operator since its establishment in 2021
The transaction is expected to close by the end of April 2025
By The Numbers:
Transaction valued at approximately €900 million
Havfram has two state-of-the-art WTIVs under construction
PSP Investments manages C$264.9 billion of net assets as of March 31, 2024
Key Quotes:
"We partnered with PSP Investments to build Havfram because we saw a unique market opportunity to provide the state-of-the-art vessels required to build today's enormous offshore wind farms," said Christopher Hunt, Partner at Sandbrook Capital.
"Our investment in Havfram reflects our broader capabilities and commitment to invest in assets essential to the renewables value chain, while generating strong risk-adjusted returns," said Sandiren Curthan, Managing Director and Global Head of Infrastructure Investments, PSP Investments.
"The support and long-term vision of Sandbrook Capital and PSP Investments have been instrumental in building Havfram into what it is today," said Ingrid Due-Gundersen, CEO of Havfram.
Bottom Line:
The sale of Havfram to DEME represents a successful exit for Sandbrook Capital and PSP Investments, demonstrating their ability to identify and capitalize on opportunities in the offshore wind sector. This transaction highlights the growing importance of renewable energy infrastructure and the potential for significant returns in this market.
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