JBR M&A transaction

Cyan Renewables and DEME

JBR acted as M&A advisor to Cyan Renewables

The dealteam of JBR Corporate Finance consists of:
Rick ter Maat, Ronald van Rijn and Rogier Tigchelaar

Author: Ronald van Rijn

Managing Partner JBR
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Cyan Renewables acquires the vessel Groenewind from DEME.

JBR assisted Cyan Renewables.

Cyan Renewables, a portfolio company of Seraya Partners, has completed the acquisition of a 100% interest in Groenewind, an advanced Service Operations Vessel (SOV). This state-of-the-art vessel, only 2 years old, was previously owned by DEME and is based in Belgium. It operates under a 17-year long-term contract dedicated to servicing offshore wind farms. Groenewind has a remarkable feature as the world's first DP2 advanced dynamic positioning SOV with a double hull.

Its advanced design allows for safe crew transfer even in challenging wave heights, and it effectively maintains its position in rough seas. The vessel is highly energy efficient, with a focus on reducing fuel consumption, and is equipped with a built in waste heat recovery system. With its motion-compensated gangway and daughter craft, Groenewind ensures the utmost safety and comfort for its crew of 24 nautical members and technicians during their operations at sea.

Facts and figures

Cyan Renewables

Headquartered in Singapore, Cyan Renewables is the first pure play offshore wind vessel owner in the growing offshore wind industry in Asia:

Cyan Renewables seeks to accelerate the growth of the offshore wind sector by investing in a dedicated fleet of wind farm support vessels, including Cable-Lay Vessels (CLV), Service Operation Vessels (SOV), and Wind Turbine Installation Vessels (WTIV)
The mission of the company is to be the partner of choice for wind farm developers and vessel operators, facilitating the world transition towards a greener future
Cyan has over two decades of experience in the offshore wind services industry and successful management of more than 50 offshore wind farms
The company together with Seraya Partners have ambitious plans to deploy a state-of-the-art fleet worth US$ 1 billion over the next three years in key regions across Asia and Europe

DEME

DEME operates in dredging, land reclamation, marine infrastructure, offshore energy, and environmental remediation:

Company has over 145 years of experience and 5,000 skilled professionals.
DEME has more than 100 specialist vessels in their fleet
The SOV Groenewind was not core business and therefore sold to Cyan Rewnewables
DEME has a strong global presence and operates one of the largest and most technologically advanced fleets of vessels