PASSER Group Ready for New Offshore Wind Projects with Working Capital Guarantee

Expert competencies for offshore wind and infrastructre

PASSER Group AS is a Norwegian industrial group based in Sandefjord. PASSER delivers a broad portfolio of products and services to the energy sector, particularly related to cable production, offshore construction, and maritime equipment. PASSER Group’s cable carousels, cable drums, and laying systems are used in the production, transport, storage, and installation of cables for offshore wind farms and other infrastructure projects.

PASSER Group delivers sought-after solutions for the entire lifecycle of maritime cables. With a working capital guarantee, we gain operational flexibility and the ability to deliver on larger contracts simultaneously, Fredrik Toften, CFO, PASSER Group.

Strengthens Norway’s maritime competitive advantage

The company holds a strong position in the value chain for electrification and offshore wind projects, and is winning contracts. Strengthened liquidity through a credit facility provides flexibility in operations and enables growth when project execution and customer payments occur at different intervals.

“The Norwegian supplier industry around offshore wind has expertise that is in demand internationally. Companies like PASSER Group play a key role in preserving and developing Norway’s competitive advantage in the maritime sector. Eksfin contributes financing that makes it easier for banks to finance Norwegian companies with international reach”, states Bodil Sannes-Vardenær, Senior Client Executive.

International growth with working capital guarantee

With deliveries to major players such as Nexans, JDR, and Prysmian, PASSER Group is well-positioned for international growth. Eksfin is now providing a guarantee to relieve Sparebank 1 Sør-Norge, which is supporting the company’s expansion.

“Our collaboration with Eksfin enables us to support PASSER Group during an important growth phase, while managing risk in a sound manner”, states Jørgen Berg Andersen, senior adviser, Sparebank 1 Sør-Norge.