Dutch heavylift specialist Mammoet is expected to be sold.
Its parent company SHV is exploring a potential divestment as part of a strategic review.
The Netherlands-based trader said a new owner is needed to enable Mammoet to make the required investments to allow it to continue its growth strategy.
Mammoet will be sold along with SHV’s industrial service provider ERIKS, which together form two of eight divisions belonging to the Dutch conglomerate.
SHV has decided that supporting all eight groups simultaneously “is not the best way forward”.
“That does not mean the decision to potentially divest Mammoet has been taken lightly,” said SHV chief executive Jeroen Drost.
“Both have been valued members of the SHV family for many years and it is with regret that we have to let them go.
“What is now most important for SHV is to make sure we find a new owner that is committed in supporting … Mammoet and our colleagues in this next step.
“We all strongly feel this obligation and will be part of every decision in the process.”
SHV described Mammoet as a successful company with strong sales growth and increased profitability.
Under a new owner, it would have the opportunity to grow in the renewable energy sector, it added.
“As the global market leader we have demonstrated [the ability] to be flexible,” said Paul van Gelder, CEO of Mammoet.
“We’ve made a shift from an oil and gas-dominated orderbook to a diversified revenue coming from multiple sectors like nuclear, infrastructure and renewable energy.”