Sif intents to acquire KCI

Sif Group

Sif Holding and Royal IHC have signed heads of agreement on an intended acquisition by Sif of “KCI the engineers” (KCI). Final agreement is subject to due diligence outcome and foreseen in the first quarter of 2021. Financial details are not disclosed.

KCI (founded in 1987) has built a track record in the offshore energy industry in the design and project management of complex offshore engineering projects. Reference projects include oil & gas greenfield and brownfield engineering, leisure and renewables. KCI designed also the Double Slip Joint voor offshore wind. KCI has been part of Royal IHC since 2018.

By adding design engineering skills, Sif takes an important next step in its development towards an integrated total solution partner for offshore wind monopile products and services.

Fred van Beers, CEO of Sif Holding NV says: ’In-house concept, system and detailed design engineering adds value to the total foundation solution, especially in the current environment where step-ups in turbine-sizes dominate the landscape. We not only need to keep up with the pace of the supply-chain in the offshore wind industry, we also have the ambition to influence it. We are convinced the combined power of KCI and Sif forms a strong basis for the monopile solutions of the future”.

The intended acquisition of KCI is instrumental to building sufficient engineering-capacity and -competence to fully support this approach. According to Sif, this should effectively result in a better production efficiency and lower integrated costs of the foundations for their customers.

Works Councils of parties involved have been informed or asked to advise on the intended acquisition.

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