Translink Corporate Finance announces the GT Sea AS and Hokland Invest sale of shares in the Norwegian submarine cable laying company Seaworks Kabel AS to the Swedish company Baltic Offshore AB.

Synergos, as part of Translink Corporate Finance, acted as exclusive strategic and financial advisor to GT Sea AS and Hokland Invest in connection with their sale of 45% of the shares in the Seaworks AS subsidiary, Seaworks Kabel AS, to the Swedish company Baltic Offshore AB.

Founded in 2006, Baltic Offshore is today one of the leading entrepreneurs in the Baltic area with competent staff, vessel and equipment with an organization to undertake almost all submarine cable projects offshore, inshore, in lakes and rivers.

Seaworks Kabel AS mainly operates in submarine cable laying in Norwegian shallow waters. Seaworks Kabel AS is after the transaction owned by Baltic Offshore AB (45%), Seaworks Group (45%) and Hokland Invest (10%).

The acquisition will give Baltic Offshore access to the Norwegian market, as well as the ability for higher capacity utilization between the countries. The acquisition will also make Baltic Offshore the regional market leader in submarine cable laying in shallow waters.