A2SEA acquired by GeoSea

Thomas Dalsgaard, Executive Vice President in DONG Energy and Chairman of A2SEA, says: "I'm pleased that we've now found a new owner of A2SEA. A2SEA is a pioneer in the industry and one of the leading players in the market for offshore wind turbine installation. Owning an offshore wind turbine installation company, however, isn't within the scope of our core business, and we've therefore been looking for a new owner."

"With the new owner, I feel confident that A2SEA will be in very good hands. GeoSea is in a position to contribute to A2SEA's continued stable operating results and ensure the continued positive development of the offshore wind installation company. Based on A2SEA's industry leading expertise and track record for installation, we expect A2SEA to still be a key supplier to DONG Energy's future projects. This transaction won’t change that fact," Thomas Dalsgaard concludes.

Luc Vandenbulcke, Managing Director, GeoSea, says: “The activities of A2SEA represent a strong and complementary fit with GeoSea’s operations. The combined organisation 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 specialised employees.”

The transaction, which is conditional upon authority approval, is expected to be completed in the third quarter of 2017.