Cadeler has acquired Menck, a provider of specialist equipment and technology solutions for offshore foundation installation from Germany. The deal strengthens Cadeler’s capabilities in foundation transport and installation and expands its offering across the offshore wind supply chain.
Menck will continue to operate as a standalone business and serve customers across the offshore wind industry, including other installation contractors. The company provides specialist foundation installation equipment and engineering services and has more than 150 years of experience in the sector.
The acquisition combines Menck’s foundation installation technology and engineering expertise with Cadeler’s fleet of heavy-lift wind installation vessels. Menck also brings extensive experience with driven piles, supported by a database containing more than 50 million data points.
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Impact and Wind Hammer
The companies already work together, with Menck supplying the 4400-kJ impact hammer that Cadeler currently deploys on the Hornsea 3 offshore wind project.
According to Menck, Cadeler will strengthen Menck’s financial flexibility to support and accelerate the execution of the latter’s growth plan. A key development in Menck’s portfolio in this respect is the next-generation Wind Hammer. The company expects to introduce this piece of equipment in early 2027. The equipment is designed to enable the installation of ultra-large offshore wind foundations.
Cadeler says the acquisition will reduce its reliance on subcontracted foundation installation services and give it greater flexibility in project planning and execution.
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EUR 501 million
The transaction is based on an agreed enterprise valuation equivalent to EUR 501 million, with signing and closing completed simultaneously following receipt of all mandatory regulatory approvals.
The transaction was financed through available liquidity and a EUR 380 million acquisition facility provided by DNB Bank and Rabobank.
Picture: Menck supplied the 4400-kJ impact hammer that Cadeler deploys on the Hornsea 3 offshore wind project (photo by Cadeler).
