ESVAGT Gets New Owners

3i Infrastructure and AMP Capital have entered into an agreement to jointly acquire 100% of Danish company ESVAGT from Maersk Group.

3i Infrastructure will be investing approximately £109 million to acquire a 50% interest in ESVAGT and will have an equal shareholding with AMP Capital.

Headquartered in Esbjerg, Denmark, ESVAGT provides emergency rescue and response vessels and related services to the offshore oil and gas industry, as well as offshore wind Service Operation Vessels (SOVs).

Completion of the transaction remains conditional upon receiving clearance from the European Commission under the EU Merger Regulation expected by the end of September 2015.

“The sale to 3i Infrastructure plc and AMP Capital has proven to be the best way of ensuring that ESVAGT can continue its development based on a strong culture and heritage, while at the same time creating value for the shareholders,” said Maersk Group CFO and Chairman of the Board in ESVAGT, Trond Westlie.