A2SEA, an offshore wind service and installation company owned by DONG Energy and Siemens, is being sold to Belgium-based GeoSea.
A2SEA, which will continue to operate out of Denmark, has been owned by DONG Energy and Siemens since 2009, when both companies needed to consolidate their position in the offshore wind market. However, they say owning A2SEA is no longer within the scope of their core business.
GeoSea, which works on marine engineering projects, is owned by DEME Group, a provider of dredging, marine engineering and environmental remediation.
“The activities of A2SEA represent a strong and complementary fit with GeoSea’s operations,” states Luc Vandenbulcke, managing director of GeoSea. “The combined organization will be well positioned to provide a broader range of integrated services and solutions to offshore wind energy customers. GeoSea will continue to build on existing customer relationships and ensure a safe and reliable delivery of current and future projects. With the acquisition of A2SEA, the company will also gain a group of highly skilled and specialized employees.”
The transaction, which is conditional upon authority approval, is expected to be completed in the third quarter.