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GeoSea to acquire A2SEA from Dong Energy and Siemens

Published 10 July 2017

Dong Energy and Siemens Wind Power have agreed to sell A2SEA to German company GeoSea.

Financial details of the acquisition have not been disclosed and the transaction is expected to be completed in the third quarter of this year.

After the transaction, A2SEA is expected to continue its offshore wind turbine services and installation operations from Denmark.

Both Dong Energy and Siemens Wind Power have been the owners of A2SEA since 2009. The two companies claimed to have consolidated their position in the offshore wind market through A2SEA’s ownership.

Presently, Dong and Siemens have stated that owning A2SEA is no longer within the scope of their core businesses and is being divested.

GeoSea, owned by DEME Group from Denmark, operates in the fields of dredging, marine engineering and environmental remediation. GeoSea offers marine and offshore solutions, fluvial and marine aggregates, environmental solutions and infra marine solutions.

DONG Energy executive vice president and A2SEA chairman Thomas Dalsgaard said: “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.".

GeoSea managing director Luc Vandenbulcke said: “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.”


Image: Dong and Siemens to sell A2SEA to GeoSea. Photo: Courtesy of DONG Energy A/S.