HARCO makes major investment and transform from niche specialist to scalable partner
Building on a strong 2023 performance, the lifting specialists have invested strategically in long-term growth – shifting from a niche project supplier to a scalable, solution-oriented partner.
In 2024, Harco took a significant step toward future scalability and expansion through a series of strategic investments that have transformed the company both organizationally and commercially.
Having established itself in just a few years as a specialist in the most complex lifting operations within the offshore wind industry, Harco has this year invested in a new management structure, an expanded and strengthened team, and the development of a new standardized and modular product platform. These substantial investments are further supported by a new digital business platform expected to launch in 2025.
We decided to use our strong position in 2023 – with record-high revenue and earnings – as a springboard to invest in our next chapter of growth. That means in 2024, we’ve prioritized long-term value over short-term profits.”
Sten Dyrmose
CEO, HARCO
From a niche project supplier to a scalable partner
The bottom line doesn’t match last year’s extraordinary result, but for a good reason: the company has made substantial investments in talent acquisition, organizational development, and a new modular product platform. These forward-looking efforts make the current result not only expected, but also satisfactory.
-Yes, the bottom line has changed considerably in isolation, but that’s not what matters most. 2023 was an exceptional year when everything aligned perfectly. What truly matters is that we hit our projected top-line target for 2024 – during a year in which we’ve focused heavily on onboarding new colleagues and transforming the company. We’re on track, says Dyrmose.
We’ve made a deliberate decision to transition from a niche project supplier to a scalable partner offering standardized, modular solutions that meet the growing demands of the market. That requires investment – and we’ve invested.”
Sten Dyrmose
CEO, HARCO
With a revitalized organization and a strong market position, Harco’s Chairman of the Board, Allan J. Vestergaard, expects 2025 to be a breakthrough year with increased commercial activity and growth in key markets.
-The new platform and structure provide the foundation for a more scalable and resilient business in the rapidly expanding offshore wind sector. We’ve prepared the company for growth, says Vestergaard.
Questions? Please reach out
