CapitalChange acquires majority stake in N-Sea
CapitalChange has acquired a majority stake in N-Sea, a leading international subsea services provider.
The transaction was completed in close cooperation with N-Sea’s management and with the support of the Aegon Subordinated Loan Fund (ALF), which has been a valued financing partner of N-Sea since 2018.
With this acquisition, CapitalChange combines its expertise in strategic value creation with the operational strength of N-Sea. The majority stake provides a solid foundation for further growth, innovation, and international expansion.
N-Sea specializes in subsea services for the offshore energy and cable industries, including survey, installation, and maintenance of subsea infrastructure. The company operates across Northwestern Europe with a modern fleet and highly skilled personnel.
Since the transaction, N-Sea has achieved several key milestones:
Strategic expansion through the acquisition of Geo Plus (2024), strengthening its hydrographic survey capacity.
Operational growth with the development of a new support center in IJmuiden.
Financial consolidation by transitioning to Rabobank as its new main banking partner and fully repaying its long-term obligations to Aegon ALF in April 2025.
Statement from CapitalChange
“We are proud to enter this new growth phase together with N-Sea’s management. N-Sea is a strong and innovative player in a sector that is vital to the energy transition and international cable infrastructure. With our support, the company is well positioned to further strengthen its market presence and seize new opportunities,” said CapitalChange.