NorSea Group is taking a major step forward in its international involvement by purchasing the Danish base and logistics company Danbor AS.
The value of the acquisition is estimated to be around USD 42.5 million and includes in addition to facilities in Espbjerg, Denmark, a total of 370 employees.
In addition to enhancing the global presence of NorSea Group, Danbor will significantly boost the company’s capability in the wind power market.
“International expansion is part of NorSea Group’s expressed strategy. Danbor is a solid company which is well-established in our core activity field and fits in well with the rest of the NorSea Group family,” says John Stangeland, CEO of NorSea Group. NorSea Group sees many similarities between the two companies and considerable potential for creating synergies between Danbor and NorSea Group’s other subsidiaries and activities.
Enhancing NorSea Group’s global presence
NorSea Group is Norway’s leading supplier of base and logistics services to the oil and gas industry. The company also has offices in Aberdeen in Scotland and Perth in Australia. With its acquisition of Danbor, NorSea Group is taking a bold step into the international market. Danbor’s head office is in Esbjerg and its principal operations are on the Danish shelf, where it is a supplier to Mærsk Oil and Dansk Undergrunds Consortium (DUC). Danbor also has operations in Montrose and Aberdeen in Scotland, as well as a base joint venture with Royal Arctic Line in Greenland. The acquisition of Danbor will give NorSea Group a significant presence in Denmark as well as enhancing its presence in the UK. The company is now capable of serving customers throughout the North Sea basin.
Enhanced wind power capability
In recent years, Danbor has also become well established in the wind power market, where the NorSea Group wishes to increase its focus. Esbjerg is a focal point of the European wind turbine industry, and Danbor has contracts in the fields of logistics operations and the repair and maintenance of both offshore and land-based wind turbines.
Many similarities between the companies
NorSea Group is taking over a solid, well-run company with a long history in the industry. This year, Danbor celebrates 40 years of operations, while NorSea Group will turn 50 next year. Besides their long industry experience, there are many similarities between the two companies in regards to their business models, culture and values.
“I am convinced that A.P. Møller-Mærsk has found the right purchaser to ensure Danbor’s future growth and enable us to maintain the quality of our operations and the level of service provided by our employees. Our incorporation into the new company will have no immediate effect either on our daily operations or on our existing contractual obligations,” states Søren Fløe Knudsen, CEO of Danbor.
A.P. Møller-Mærsk is confident that Danbor is in good hands.
“Danbor is a healthy and well-run company whose operations are peripheral to our strategic focus and which therefore merits a dedicated ownership which will develop its activities. NorSea Group is a recognised operator in the industry and I am sure that it will carry on the company’s operations in the right spirit and with a long-term perspective,” says Jakob Thomasen, a member of the Executive Board of A.P. Møller-Mærsk.
Through the acquisition of Danbor, NorSea Group has gained 370 new employees. “We have been made very welcome by Danbor and we are looking forward to getting to know our new colleagues,” says the CEO of NorSea Group in conclusion.
NorSea, April 2, 2014