SHV has decided to explore a potential divestment of Mammoet. A new owner is to support the company in executing its growth strategy, particulary in offshore wind.
The decision follows a strategy update process in which SHV concluded that supporting all eight groups (SHV Energy, Makro, Mammoet, ERIKS, Nutreco, NPM Capital, Kiwa and ONE-Dyas) simultaneously in realising their full potential and ambitions is not the best way forward.
Mammoet has proven to be a strong and successful company. To allow Mammoet to continue its growth strategy, SHV wants to find a new owner that is committed to make the required investments, employ Mammoet’s people to their full potential and foster the strong entrepreneurial spirit that defines the global leader in heavy lifting and transport. In the coming years, the company intends to invest in high-capacity equipment that will be put to work in support of the global energy transition, in particular offshore wind.
‘It has become clear that offering support in the best possible way to eight groups cannot be done in the way we would like to,’ says Jeroen Drost, CEO of SHV. ‘That does not mean the decision to potentially divest Mammoet has been taken lightly. They have been a valued member 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.’
Renewable energy sector
Mammoet, under a new owner, will have the opportunity to reach new heights on the back of the rapid growth of the renewable energy sector and the fast-paced transition in industries and societies. With its large fleet of high-capacity equipment, the company is ideally positioned to fully benefit from these new developments, as well as from the continuing stream of work in traditional markets.
Paul van Gelder, CEO of Mammoet: ‘As the global market leader we have demonstrated to be flexible. We’ve made a shift from an oil and gas dominated order book to a diversified revenue coming from multiple sectors like nuclear, infrastructure and renewable energy. This diversification and several improvement programmes have resulted in strong sales growth and increased profitability over the last five years. SHV has been a great owner of Mammoet and helped us in realising our strategic goals. I’m convinced that we will be able to continue delivering outstanding results under a new owner, backing up our strategy to create a sustainable future for our company and planet.’
Picture: The SK6,000 ring crane designed by Mammoet allow offshore wind projects to take place under entirely electric power (picture by Mammoet).