SHV, the parent company of Mammoet, has announced earlier this month, that it is exploring the potential divestment of the heavy lifting and transport company. The decision was made as part of SHV’s regular strategy update process, which reviewed the composition of the company as a whole. SHV concluded that supporting all eight of its groups simultaneously in realizing their full potential and ambitions was not the best way forward.
Mammoet, which has proven to be a strong and successful company, is now seeking a new owner who is committed to making the required investments and employing Mammoet’s people to their full potential. The company is also looking for a new owner who can foster the strong entrepreneurial spirit that defines Mammoet as the global leader in heavy lifting and transport.
In the coming years, Mammoet intends to invest in high-capacity equipment that will be put to work in support of the global energy transition, particularly in the offshore wind sector. The company is ideally positioned to fully benefit from the energy transition, and with a new owner, it 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.
Jeroen Drost, CEO of SHV, stated that the decision to potentially divest Mammoet was not taken lightly, and that Mammoet had been a valued member of the SHV Family for many years. However, it has become clear that offering support to all eight groups simultaneously cannot be done in the way that SHV would like.
Paul van Gelder, CEO of Mammoet, expressed his confidence that the company will be able to continue delivering outstanding results under a new owner. Mammoet has already 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, along with several improvement programs, has resulted in strong sales growth and increased profitability over the last five years.
As the global market leader in heavy lifting and transport, the name of Mammoet stands for safety, quality, and reliability. Mammoet is now ready for a new chapter in its history, backed by a new owner who is committed to supporting the company and its people in their growth strategy and the pursuit of a sustainable future for the company and the planet.
