Cadeler acquired Menck, the German maker of offshore pile-driving hammers, from Acteon at an enterprise value of €501m, the Danish company announced on 11 August.
Why Cadeler A/S is buying Menck GmbH
Cadeler said the deal marks a step change in its foundation transport and installation business, giving it more control over execution, less reliance on subcontractors and greater flexibility on projects as offshore wind schemes grow in scale and complexity.
Deal terms and financing
The €501m enterprise value was funded from Cadeler's existing liquidity and a €380m acquisition facility arranged by DNB Bank and Rabobank, which Cadeler plans to replace with longer-term financing and operating cash flow. Cadeler said the deal would affect its 2026 revenue and EBITDA guidance.
Regulatory approvals and timing
All mandatory regulatory approvals had been received, so signing and closing took place simultaneously.
Market context
Menck is headquartered in Kaltenkirchen, Germany, with facilities in Hamburg, Singapore, Cornwall and Cork, and supplied a 4,400kJ hammer for Cadeler's work on the Hornsea 3 offshore wind farm. Acteon is owned by Buckthorn Partners and One Equity Partners.
