Sandbrook Capital, a private investment firm, has purchased a large position in Havfram, a Norwegian offshore wind services firm. In addition to purchasing a stake, Sandbrook Capital has committed a $250 million investment to assist Havfram’s future expansion. Under the terms of the agreement, HitecVision, a private investment group based in Norway, will own Havfram’s subsea activities, which will be divided into a distinct company and hold a minority ownership in Havfram.

The Norwegian company will utilise the investment to support its strategy to establish itself as the leading service provider to the offshore wind industry as well as to build a fleet of vessels for the installation of offshore wind turbines and foundations. Havfram stated that the company’s vessels would be designed to support large-scale offshore wind projects while significantly reducing the carbon footprint of the installation processes.