Cadeler and Eneti Complete Merger
Cadeler and Eneti have officially completed their merger, creating a leading offshore wind installation company.
The New York- and Oslo-listed group will be named Cadeler and be headquartered in Copenhagen, Denmark, with offices across the world in Denmark, U.K., U.S., Taiwan, and Japan.
Mikkel Gleerup, CEO of Cadeler, said, “This marks a historic moment for Cadeler and the entire offshore wind industry. We offer our partners and clients access to the strongest and most skilled team and the industry's largest, most flexible, most diverse, and modern fleet of windfarm installation vessels. We are committed to facilitating the world’s transition to a more sustainable planet built on renewable energy by being the key supplier in the development of offshore wind energy.”
The current CEO of Cadeler, Mikkel Gleerup, will continue as CEO after the combination, and Peter Brogaard Hansen will continue as CFO. Andreas Sohmen-Pao will continue as Chairman of the Board of Directors, and Emanuele Lauro, the current CEO of Eneti, will expectedly be nominated for election to the Board of Directors as Vice Chairman shortly after the completion of the offer.
Cadeler specializes in the transport and installation of offshore wind turbine generators and foundations. Its website lists a fleet of four wind turbine installation vessels (WTIV) in operation, with six newbuilds scheduled for delivery through Q3 2026.
Eneti was formed in 2021 when then Scorpio Bulkers rebranded in a pivot from dry bulk shipping to offshore wind farm construction and services.