Norway’s Havila Holding has taken full ownership of Volstad Maritime.
The shipowner bought a 47.5% stake in Volstad Maritime from Ola Volstad Holding.
Havila, which first bought into Volstad in 2017, previously held a majority stake and has now purchased the remaining part.
Njal Saevik, owner of Havila and chief executive of Havila Shipping, said in a statement: “It offers great future opportunities where Havila Holding, as sole owner of Volstad Maritime and majority owner of Havila Shipping, creates a good mix between oil, gas and offshore wind, in addition to building breadth and strength towards the market and within the operation of the shipping company.”
Volstad has five construction vessels and one diving unit.
“Volstad Maritime has one of the most modern subsea fleets in the world, it is an environmentally friendly fleet and in the last five years 40% of their activity has been against offshore wind, ” Saevik said.
Volstad has around 250 seamen and 20 employees on land.
“This is an interesting fleet with a good order reserve within a market we have faith in and is also a fleet that will complement and strengthen Havila as a maritime player,” Saevik added.
Havila Shipping operates 14 vessels within subsea, platform supply vessels and area services. There are 262 sailors on board the ships.
The parties agreed not to disclose the price of the transaction.
Arctic Securities acted as financial adviser to Ola Volstad Holding in the sale.
