Shipping Industry Leaders Take Edda Wind Private for Growth and Expansion

Three prominent figures in the shipping industry—Fredriksen, Ofer, and Wilhelmsen—have decided to take Edda Wind private, citing the current ownership structure as a barrier to growth. Together, Fredriksen’s Geveran Trading and Wilhelmsen New Energy control about 67% of Edda Wind’s shares. Through a new entity, Electric AS, they plan to acquire full control and delist the company from the Oslo Stock Exchange, offering a cash buyout at a nearly 33% premium, valuing Edda Wind at $287.5 million.

This announcement follows Edda Wind’s impressive 2024 financial results, which showed a 79% revenue increase to €70.4 million ($80.2 million) and a 161% rise in earnings (EBITDA). Established in 2015, Edda Wind specializes in purpose-built vessels for the offshore wind sector and aims to expand its fleet, having already secured contracts for two new vessels.

The shareholders expressed frustration over the company’s slow growth, particularly in acquiring next-generation offshore wind service vessels. They noted that concentrated ownership has hindered investment and scaling in a public setting. Edda Wind is set to add four newbuilds this year, with a focus on enhancing its fleet to meet the growing demands of the offshore wind market.

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