SHV considers potential divestment of Mammoet

SHV announced that is exploring a potential divestment of two of its subsidiaries, one of which is heavy lift specialist Mammoet. This is the result of the regular strategy update process where the parent company reviews the composition of SHV overall. SHV concluded that supporting all eight groups simultaneously in realizing their full potential and ambitions is not the best way forward.

Mammoet has been part of the SHV family since 2006 and has proven to be a strong and successful company, active in over 45 countries. To allow Mammoet to continue its growth strategy, SHV is devoted to find a new owner that is committed to make the required investments, employ Mammoet’s people to their full potential and foster the strong entrepreneurial spirit that so much defines the global leader in heavy lifting and transport. In the coming years, the company intends to invest in high-capacity equipment that will be put to work in support of the global energy transition, in particular offshore wind.

“It has become clear that offering support in the best possible way to eight groups cannot be done in the way we would like to. That does not mean the decision to potentially divest Mammoet has been taken lightly. They have been a valued member of the SHV Family for many years and it is with regret that we have to let them go. What is now most important for SHV is to make sure we find a new owner that is committed in supporting Mammoet and our colleagues in this next step. We all strongly feel this obligation and will be part of every decision in the process.”

Jeroen Drost, CEO of SHV

Mammoet is ideally positioned to fully benefit from the energy transition

Mammoet, under a new owner, will have the opportunity to reach new heights on the back of the rapid growth of the renewable energy sector and the fast-paced transition in industries and societies. With its large fleet of high-capacity equipment, the company is ideally positioned to fully benefit from these new developments, as well as from the continuing stream of work in traditional markets.

“As the global market leader we have demonstrated to be flexible. We’ve made a shift from an oil and gas dominated order book to a diversified revenue coming from multiple sectors like nuclear, infrastructure and renewable energy. This diversification and several improvement programs have resulted in strong sales growth and increased profitability over the last five years. SHV has been a great owner of Mammoet and helped us in realizing our strategic goals. I’m convinced that we will be able to continue delivering outstanding results under a new owner, backing up our strategy to create a sustainable future for our company and planet”.

Paul van Gelder, CEO of Mammoet

In addition to Mammoet, SHV is also exploring the divestment of ERIKS. ERIKS is a specialised industrial service provider, combining product & application know-how with extensive supply chain service to create solutions for customers in industry. ERIKS’ specialists deliver a wide range of high-quality mechanical engineering components and associated technical and logistical services. Source: Mammoet/SHV Image: © Mammoet

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