Bilfinger SE has sold its Polish and German offshore business units to VTC Group and the Dutch Van Oord Group
Bilfinger, a leading international industrial services provider, divested its offshore wind business units in two separate transactions to the German financial sponsor VTC Group and the Dutch Van Oord Group. Further details of the agreements were not disclosed.
The majority interest of Bilfinger SE (62.5%) in Bilfinger Mars Offshore (BMO) was acquired by Europoles Renewables GmbH & Co. KG, a portfolio company of VTC Group. BMO, based in Szczecin, Poland, manufactures offshore wind steel foundations. These are used to anchor the wind turbines in the seabed. With jackets, transition pieces and monopiles, BMO offers a broad range of technologies.
The offshore installation unit of Bilfinger SE (100%), which installs offshore wind turbines, was acquired by Dutch family-owned Van Oord Group. Bilfinger’s offshore installation unit participated in the installation of landmark offshore wind park projects such as London Array.
Bilfinger is a leading international industrial services provider. The Company delivers customized engineering and services to customers in the process industry. Bilfinger enhances the efficiency of assets, increases their availability and reduces maintenance costs. The portfolio covers the entire value chain, from consulting, engineering, fabrication and installation through comprehensive maintenance concepts and their implementation including turnarounds. Bilfinger stands for the highest standards of quality and thus meets the strict requirements of customers active in the petrochemical, chemical, pharmaceutical, energy, and oil and gas sectors. With approximately 40,000 employees, the Company achieves revenues in excess of Euro 4 billion.
Founded in 1992 and owned by its four Managing Partners, VTC is a fast-growing and independent industrial holding company with a focus on the DACH region. VTC currently owns five portfolio companies (including BMO) with a consolidated turnover of around EUR 700 million and more than 4,000 employees.
Van Oord is a Dutch contracting company that specializes in dredging and land reclamation. Van Oord is one of the four leading companies in this sector.
Lincoln International acted as the exclusive financial advisor to Bilfinger and supported Bilfinger throughout the process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the process. A key element of the process was the involvement of a broad range of international potential investors. Lincoln International’s global energy team regularly advises companies in the renewable energy sector and has deep experience with various energy generating technologies.
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