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Subsea 7 takes over SHL

Subsea 7 takes over SHL

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13 March 2017

Subsea 7 has completed a takeover of offshore wind installation contractor Seaway Heavy Lifting.

The company has acquired the 50% SHL shareholding from K&S Baltic Offshore. Subsea 7 already had a half share in the business.

The acquisition is part of the company’s move to grow its presence in offshore renewables.

Chief executive Jean Cahuzac said: "Consolidating SHL into the group increases our participation in renewables, heavy lifting and decommissioning services. These are areas where we expect market activity to increase and see potential to grow our market share.”