Acquisition of SH Group Esbjerg

SubC Partner Acquires SH Group's Esbjerg Division  

Esbjerg, September 6, 2023 - SubC Partner, a leading player in the subsea, onshore, and offshore industries, is pleased to announce the acquisition of SH Group's Esbjerg division. This strategic acquisition marks a significant step in SubC Partner's ongoing growth strategy and the consolidation of our position as a market leader.

SubC Partner is a company dedicated to providing comprehensive solutions in the energy sector, and this acquisition reflects our commitment to expanding our expertise and services. Through this addition, SubC Partner is now able to enhance our capabilities and leverage them to create an even more comprehensive and competitive offering for the benefit of our customers.

"Our acquisition of SH Group in Esbjerg represents a crucial strategic move for SubC Partner," said Tonny Klein, CEO of SubC Partner. "We see great synergy with our existing operations by adding another link to our service chain. We will expand our offerings in hydraulic and valve services and strengthen our assembly teams. Additionally, this opens up opportunities for enhanced collaboration with SH Group, which we view as an incredibly exciting company and customer for SubC Partner in the future. We can supply various components for SH Group's advanced products and assist SH Group when they need extra hands for larger tasks. It's a perfect fit since our cultures and values align quite closely."

For SH Group, the sale allows them to focus their efforts on their core areas, which are in rapidly growing markets. As part of the agreement, SH Group can still draw upon SubC Partner's extensive presence in Esbjerg. The partnership will also enable a broader range of services and solutions for both existing and new customers. Therefore, Kaare Vang Jensen, CEO of SH Group, also views the acquisition positively.

"Considering that we have shifted our strategic focus and will no longer concentrate on valve services, it makes sense for us to transfer our employees, resources, and capacity to SubC Partner," said Kaare Vang Jensen, adding: "We have had fruitful and trustworthy discussions with SubC Partner, and we have agreed that the business will be well taken care of, ensuring that it will not be a liquidation but rather a development of the work we started in Esbjerg."

Both SubC Partner and SH Group share a common vision of delivering quality solutions and creating value for their customers. This acquisition strengthens the commitment to remaining the industry's leading player and establishes a stronger platform for growth, innovation, and credibility