What Fred. Olsen & Co. does

Fred. Olsen & Co. AS is a privately held Norwegian holding and management company founded in 1848 and headquartered at Fred. Olsens gate 2, Oslo. It has been entrusted for decades with managing Bonheur ASA, listed on the Oslo Stock Exchange, and delivers professional consultancy services in administration, finance, legal, IT, property management and HR to Bonheur's operating subsidiaries. The group operates a diversified portfolio spanning renewable energy development and services (Fred. Olsen Renewables, Fred. Olsen Seawind, Fred. Olsen Windcarrier, Global Wind Service, Fred. Olsen 1848), cruise lines (Fred. Olsen Cruise Lines, operating three ships: Bolette, Borealis, Balmoral), travel services (Fred. Olsen Travel), investment management (Fred. Olsen Investments, Hvitsten AS managing a EUR 480 million onshore wind fund), media (NHST Holding) and specialty products (AutoSock).

The group's core technology assets sit in renewable energy infrastructure. Fred. Olsen Windcarrier operates a fleet of three self-elevating, self-propelled jack-up installation vessels (Blue Tern, Bold Tern, Brave Tern) for offshore wind turbine transport, installation and service. Global Wind Service provides full-scope installation and servicing across more than 40 countries via 13 business units, supported by 1,700 employees. Fred. Olsen 1848, the group's innovation arm, has developed the Tension Buoy System — adaptive mooring technology for floating solar capable of handling water-level variations up to 50 meters and installed in five days — and is collaborating with Sperra and Vertico on 3D-printed concrete gravity anchors for floating solar, wind and wave energy applications. Underlying these operations is an integrated ecosystem that covers renewable energy development, ownership, installation, servicing and now floating solar and mooring technology innovation.

Revenue is generated across multiple, distinct models. Fred. Olsen Renewables earns recurring revenue from owning and operating wind and solar generation assets (Q4 2025 EBITDA of NOK 444 million). The wind services segment (Fred. Olsen Windcarrier and Global Wind Service) generates professional-services revenue from installation, transport and maintenance contracts, including a 10-year offshore maintenance contract with Siemens Gamesa (Q4 2025 EBITDA of NOK 359 million). Fred. Olsen Cruise Lines and Fred. Olsen Travel generate transaction-based revenue from passenger bookings and travel services, with cruise bookings up 23% year-on-year. Hvitsten AS and Fred. Olsen Investments earn management fees from alternative investment fund management. At the consolidated Bonheur ASA level, Q1 2026 revenue was NOK 2.9 billion with EBITDA of NOK 760 million (up 4.4% year-on-year). Customer concentration leans toward enterprise clients in offshore wind (developers, operators, OEMs) and consumer travelers in cruise; go-to-market is direct, enterprise field sales supported by industry delegations and conferences.

Name

Fred. Olsen & Co.

Legal name

Fred. Olsen & Co. AS

Website

https://fredolsen.no

Company type

Private

Founded year

1848

Operating status

Operating

Headcount range

101–250 employees

Short description

Fred. Olsen & Co. AS is a privately held Norwegian holding company managing Bonheur ASA and a diversified portfolio of subsidiaries in offshore wind installation and servicing, renewable energy development, cruise lines, travel, investment management, media and specialty products.

Ownership category

akta.pro rank

Product category

Diversified Holding Company

NAICS

Offices of Other Holding Companies (551112)

SIC

Non-Operating Establishments (9995)

akta.pro primary industry

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)

akta.pro secondary industry

Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI)

Keywords

• Renewable energy development
• Offshore wind installation
• Cruise line operations
• Investment management services
• Marine engineering services

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Renewable Energy Generation: Revenue from wind and solar energy generation through Fred. Olsen Renewables. EBITDA of NOK 444 million in Q4 2025, driven by higher generation and improved power prices.
2. Wind Service Operations: Offshore wind turbine installation and maintenance services through Fred. Olsen Windcarrier and Global Wind Service. Wind service segment EBITDA of NOK 359 million in Q4 2025, with a 10-year maintenance contract secured with Siemens Gamesa.
3. Cruise Line Operations: Passenger cruise services through Fred. Olsen Cruise Lines operating three ships (Bolette, Borealis, Balmoral). Record bookings up 23% year-over-year.
4. Travel Services: Business travel, group travel, cruise holidays, and shore excursions through Fred. Olsen Travel, established 1949.
5. Investment Management: Fund management through Hvitsten AS, a licensed alternative investment fund management company managing EUR 480 million onshore wind equity financing fund.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Fred. Olsen & Co. AS is a private Norwegian holding company founded in 1848 that provides professional consultancy services in administration, finance, legal, IT, property management and HR to subsidiaries of Bonheur ASA and other Fred. Olsen-related companies. Through its diversified portfolio of operating subsidiaries, it engages in renewable energy development (wind and solar), offshore wind turbine installation vessels and services, cruise line operations, travel services, investment and fund management, media, and specialty products.

Product overview

Fred. Olsen & Co. AS is a holding company with origins dating back to 1848 that manages Bonheur ASA, listed on the Oslo Stock Exchange. The company provides consultancy services in administration, finance, legal, IT, property management and HR to Bonheur subsidiaries. Fred. Olsen & Co.'s portfolio consists of a diversified group of subsidiaries operating across renewable energy (Fred. Olsen Renewables, Fred. Olsen Seawind, Fred. Olsen Windcarrier, Fred. Olsen 1848, Global Wind Service), cruise lines (Fred. Olsen Cruise Lines), travel services (Fred. Olsen Travel), investments (Fred. Olsen Investments, Hvitsten AS), media (NHST Holding), and specialty products (AutoSock). The renewable energy ecosystem includes offshore wind installation vessels, onshore wind development, floating solar technology, and comprehensive wind turbine servicing across 40+ countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Fred. Olsen Renewables Leading developer, owner and operator in renewable energy established in the mid-1990s. Based in the UK and Scandinavia with expansion to new countries and technologies. Has an extensive pipeline of onshore wind projects and prospects in wind and solar energy.
• Fred. Olsen Seawind Established dedicated offshore wind developer building on Fred. Olsen-related companies' 25 years of wind development experience. Successfully secured licenses in the Irish Sea through a joint venture and is preparing bids for licenses in Norway and globally.
• Fred. Olsen Windcarrier Established in 2008 to meet demand for offshore wind turbine installation vessels. Focuses on efficient and cost-effective transport, installation and service solutions. Fleet consists of three self-elevating self-propelled jack-up installation vessels.
• Global Wind Service One of the largest companies in Europe offering full scope project solutions for onshore and offshore installation and servicing of wind turbines around the world. Operates in more than 40 countries with 1,700 employees via 13 business units across Europe, Asia, Oceania and North America.
• Fred. Olsen Cruise Lines Cruise line operator based in Ipswich, Suffolk operating three ships: Bolette, Borealis and Balmoral. Provides holidays ranging from mini-breaks to Norwegian Fjord adventures and World Cruises. Known as the friendliest fleet afloat.
• Fred. Olsen Travel Travel services company established in 1949 to assist Norwegian sailors with tickets worldwide. Offers business travel, group travel, cruise holidays worldwide, and tailored shore excursions for cruise lines calling in Norway.
• Tension Buoy System for Floating Solar Adaptive mooring technology designed for floating solar installations, capable of handling water level variations of up to 50 meters. Can be installed in just five days, enabling deployment in reservoirs and dams previously considered unfeasible.
• Hvitsten AS Fund Management Alternative investment fund management company licensed by the Norwegian FSA. Provides portfolio asset management services toward Wind Fund 1 AS, a fully subscribed EUR 480 million fund for onshore wind equity financing, and may assist in development of further diversified financing opportunities for the Bonheur group of companies.
• AutoSock Snow Socks Market leading textile tire traction device (snow socks) for vehicles. Available for cars, trucks and forklifts in more than 50 countries. Used by firetrucks, ambulances, public transportation, and airport pushbacks.

Quantifiable outcome

• Q1 2026 EBITDA of NOK 760 million, up 4.4% year-over-year
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• DNVminorStrategic or Co-development Partner · 1 June 2026Part of Norwegian offshore wind delegation engaging with Philippine developers on port infrastructure, marine grid connections, offshore safety standards, and supply chain readiness.
• Øglænd System GroupminorStrategic or Co-development Partner · 1 June 2026Part of Norwegian offshore wind delegation engaging with Philippine developers on offshore wind sector development.
• Copenhagen Offshore PartnersminorStrategic or Co-development Partner · 1 June 2026Philippine offshore wind developer engaged with Norwegian delegation to identify bottlenecks in supply chain and maritime logistics.
• Triconti ECC RenewablesminorStrategic or Co-development Partner · 1 June 2026Philippine offshore wind developer engaged with Norwegian delegation to identify bottlenecks in supply chain and maritime logistics.
• Nexif Ratch EnergyminorStrategic or Co-development Partner · 1 June 2026Philippine offshore wind developer engaged with Norwegian delegation to identify bottlenecks in supply chain and maritime logistics.
• ACENminorStrategic or Co-development Partner · 1 June 2026Philippine offshore wind developer engaged with Norwegian delegation to identify bottlenecks in supply chain and maritime logistics.
• SperraminorStrategic or Co-development Partner · 1 March 2026Collaboration on 3D-printed concrete gravity anchor deployment at EDP's floating solar test site in Portugal. Project aims to validate scalable, site-specific anchors for floating solar, wind, and wave energy markets.
• VerticominorStrategic or Co-development Partner · 1 March 2026Collaboration with Fred. Olsen 1848 and Sperra on 3D-printed concrete gravity anchor technology demonstration at EDP's floating solar test site.
• Siemens GamesacoreStrategic or Co-development Partner · 1 January 2026Fred. Olsen Windcarrier secured a 10-year maintenance contract with Siemens Gamesa for offshore wind turbines.
• Muir MhòrminorStrategic or Co-development Partner · 1 January 2026Bonheur ASA acquired the remaining 50% of the Muir Mhòr floating offshore wind project in Scotland.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Ørsted: Global offshore wind market leader and developer/operator. Comparable to Fred. Olsen Renewables and Fred. Olsen Seawind in developing and operating offshore wind capacity, though at far larger scale and focused purely on renewable energy.
• Bonheur ASA: The Oslo Stock Exchange-listed entity managed by Fred. Olsen & Co. Holds the group's operating subsidiaries and is publicly traded, providing a directly observable financial proxy for the parent group's economic exposure across renewable energy, wind services, and cruise.
• Vestas: Largest global wind turbine OEM with a substantial service business. Comparable to Global Wind Service and Fred. Olsen Windcarrier in wind turbine installation and servicing capabilities, though Vestas operates as a turbine manufacturer rather than a pure service provider.
• Aker ASA: Norwegian-listed industrial investment company with significant renewable energy exposure (Aker Horizons, Aker BP) and offshore wind assets. Comparable to Fred. Olsen & Co. as a diversified Norwegian holding with a strong renewables platform and capital-markets access.
• Stolt-Nielsen: Norwegian-listed diversified group with shipping, tankers, and seafood operations. Comparable to Fred. Olsen & Co. as a long-tenured Norwegian family-controlled industrial conglomerate with maritime heritage and diversified holdings.

Direct peers

• Cadeler: Pure-play owner and operator of offshore wind installation jack-up vessels following its merger with Eneti in 2023. Directly comparable to Fred. Olsen Windcarrier in vessel type, customer base (offshore wind developers and OEMs), and end-market exposure.
• Copenhagen Infrastructure Partners: Specialist fund manager focused on renewable energy infrastructure investments including offshore wind. Comparable to Hvitsten AS's fund management activities and Fred. Olsen Renewables' project development pipeline; both channel institutional capital into wind equity financing.
• Saga Cruises: UK-based cruise line specializing in smaller-ship, mature-traveller itineraries. Closely comparable to Fred. Olsen Cruise Lines in fleet size, customer demographic, and UK market positioning, offering similar intimate cruise experiences.

Regional players

• Hurtigruten: Norwegian-based cruise and expedition travel operator. Comparable to Fred. Olsen Cruise Lines in Norwegian heritage, fleet size, and itinerary focus on Norwegian coastal and fjord routes, though Hurtigruten operates a larger fleet and more international expedition offerings.

Emerging players

• Glennmont Partners: BNP Paribas-owned fund manager dedicated to clean energy infrastructure investments including offshore wind. Comparable to Hvitsten AS and Fred. Olsen Renewables in deploying institutional capital into wind energy assets and providing equity financing for project development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fred--olsen

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fred. Olsen & Co.