Føn Energy Services has unveiled its plans to acquire Dutch offshore wind farm services company, C-Ventus, as part of a merger expected to bolster its offshore wind operations and maintenance (O&M) capabilities.
Føn Energy Services will acquire 100 per cent of the shares in C-Ventus from current owner DISA International, a global provider of marine engineering, civil construction, and offshore oil and gas services.
The consideration consists primarily of shares in Føn Energy Services resulting in DISA controlling 22.67 per cent of class A shares in the company. Akastor and The IKM Group will both control 38.67 per cent of the Class A shares.
The parties have not disclosed the financial details of the transaction. Following the completion of the merger, C-Ventus will start to operate under the Føn Energy Services brand immediately.
C-Ventus is a provider of O&M services for the offshore wind market. The company’s expertise covers balance of plant services for both topside and subsea equipment, installation support, and decommissioning services.
Over the past twelve years, C-Ventus has supported more than 25 offshore wind farms in the UK, Germany, the Netherlands , and Belgium. The company’s client list includes names such as Vestas, Vattenfall, RWE, Eneco, TenneT, Shell, and many others.
“Our joint plan is to take C-Ventus’ well proven and highly efficient O&M operating model, apply it to Føn Energy Services, and use it as a catalyst for geographical expansion to the rest of Europe,” said Didier de Graaff , managing director of DISA International.
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When it comes to Føn Energy Services, the company is backed by Norwegian industrial group IKM and Oslo-listed industrial investment firm Akastor. Føn Energy Services has approximately 90 employees and operates in Sweden, Norway, Denmark, and Germany.
“With C-Ventus now becoming part of Føn Energy services, we will expand our market presence to also include UK, Belgium, and the Netherlands. This is the first step in Føn Energy Services’ strategic in-organic expansion plan towards becoming a leading service provider in the offshore wind market,” said Torben Hald , CEO of Føn Energy Services.