3i Infrastructure, AMP Capital to buy shipping firm Esvagt: Reuters

(Reuters) – Investment firms 3i Infrastructure and AMP Capital have agreed to buy Danish shipping company Esvagt for 4.1 billion Danish crowns ($607 million), aiming to tap growing demand for servicing offshore wind farms.

Esvagt is being sold by Danish shipping and oil group A.P. Moller-Maersk, which controls 75 percent of the shares, and a group of individual investors which owns the rest.

Esvagt has a fleet of 43 vessels and is a provider of offshore safety and support at sea primarily in and around the North Sea and the Barents Sea.

It made a record profit of 252 million crowns in 2014 on turnover of 943 million crowns.

Since 2010, Esvagt has been servicing the Bligh Bank Offshore Wind Farm for Danish wind turbine maker Vestas .

This year, it has put two specially built service operation vessels for offshore wind turbine farms into operation for Siemens Wind Power.

A.P. Moller-Maersk has offloaded a string of companies and stakes in subsidiaries in recent years to focus on container shipping, oil, port operations and drilling. It has booked more than $11 billion from divestments since 2009.