On Friday, 10 November 2023, Scandinavian Energy Contractor A/S was declared bankrupt, and attorney Nicolai Dyhr from Horten was appointed as trustee.
In the following days, employees in Horten's insolvency department worked around the clock to handle the bankruptcy estate of the company, which originates from one of the world's largest contractors within the power plant industry, Burmeister & Wain Scandinavian Contractor A/S (BWSC).
In connection with the bankruptcy proceedings, the trustee has arranged a major bidding round for the company's activities with a number of potential buyers. After intense negotiations, the activities were transferred on 23 November 2023 to a newly founded company owned by two foreign capital funds that will grow and continue the activities from the company's previous domicile.
As part of the transfer agreement, the buyer has acquired the majority of the employees in the company. The trustee has thus succeeded in saving a significant number of jobs, while the company's primary activities will continue to be operated from Allerød.
Scandinavian Energy Contractor A/S was founded on 24 March 2021 based on a business transfer agreement with Burmeister & Wain Scandinavian Contractor A/S. The company currently has 52 employees, who have been involved in power plants projects with a capacity of more than 4,000 MW in 74 countries.