Davie Acquires Enersense Offshore Oy – Icebreaker Block Production to Begin in Pori
Enersense International Plc has signed an agreement to sell its subsidiary, Enersense Offshore Oy – the company’s Marine and Offshore Unit – to Davie, a shipbuilding group that is part of the Inocea Group. Inocea operates in Finland and Canada, including the Helsinki Shipyard. The Marine and Offshore Unit operates at the Mäntyluoto shipyard in Pori, Finland.
The total purchase price is approximately EUR 7.5 million, of which EUR 5 million will be paid upon completion of the transaction and EUR 2.5 million six months later. The deal is expected to be finalized during Q3 2025.
Upon completion, Enersense will record a profit of approximately EUR 2.5 million, and its equity ratio will improve by around six percentage points. The sale will not impact the company’s 2025 financial guidance, which covers its core operations. In 2024, the Marine and Offshore Unit generated EUR 70 million in revenue and had a negative EBITDA impact of EUR 3.8 million. The unit currently employs around 100 people.
This transaction concludes the third and final strategic review initiated in June 2024 as part of Enersense’s updated strategy. Earlier, Enersense sold its wind and solar power project development business to Fortum and decided to discontinue its zero-emission transport business.
“We are delighted that, after carefully evaluating strategic options over the past year, we have found the best possible new home for our Marine and Offshore Unit. The unique expertise of our team in Mäntyluoto will now be able to thrive with Davie, a significant player in the global shipbuilding industry. Enersense is now fully aligned with its core business strategy focused on Power, Energy Transition, and Connectivity,” says Kari Sundbäck, CEO of Enersense.
“This acquisition will strengthen not only our own competitiveness but also the broader Finnish shipbuilding sector by ensuring the availability of steel for critical projects. Most importantly, it helps secure the future of a highly skilled workforce and brings added stability for our partners and customers,” says James Davies, CEO of Davie.
“The Enersense Marine and Offshore Unit has unparalleled expertise in steel block production for arctic vessels. This acquisition makes Davie and Helsinki Shipyard an integrated shipbuilder. Production for the first vessel under our Polar Max concept will begin as soon as possible,” says Kim Salmi, CEO of Helsinki Shipyard.
“This marks a significant milestone for Pori as icebreaker construction begins at the historic Mäntyluoto Shipyard. The deal brings major long-term investments to the West Coast and strengthens both shipbuilding and offshore industry in the region. With Davie as the operator, the shipyard’s future looks strong – supporting jobs, resilience, and industrial development in Pori and beyond,” says Lauri Inna, Mayor of Pori.