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3i completes ESVAGT acquisition

By: Tom Russell 21/09/2015 3i edited by 4C Offshore

General Windfarms

3i Infrastructure plc (“3i Infrastructure”) and AMP Capital have completed the joint acquisition of 100% of Danish company ESVAGT A/S from Maersk Group, following clearance from the European Commission under the EU Merger Regulation. 3i Infrastructure invested £111m to acquire its 50% interest.

The transaction was announced on 7 July 2015.

Kent Kirk, co-founder of ESVAGT and shareholder in ESE-Holding A/S, commented on the sale: “ESVAGT was founded in 1981 to abate unemployment in the fishing industry. Many skilled employees, both current and former, have been employed by the company, and we are happy to have been able to offer a large number of young people a career at sea,” he said.

“Almost 25 years of collaboration with the Maersk Group has meant ESVAGT is now industry leader when it comes to safety at sea. We are happy that by selling to 3i Infrastructure plc and AMP Capital, we have found a shareholder group who will invest with the long-term perspective.”

Earlier this year ESVAGT christened two SOVs, the Faradayand the Froude. The ‘Esvagt Froude’ was the first to be formally christened on June 23 in Rostock and is supporting service and maintenance operations at EnBW’s Baltic II wind farm in the Baltic Sea. On June 25, the ‘Esvagt Faraday’ was officially christened in Hamburg and will be deployed for service of wpd’s Butendiek wind farm in the North Sea.

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3i completes ESVAGT acquisition

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