What Passer Group does

Passer Group is a privately held Norwegian industrial group headquartered in Sandefjord, founded in 2004/2005, with 400+ employees across Norway, the Netherlands, Lithuania, China, South Korea, and Taiwan. The company designs, engineers, fabricates, and services custom-built equipment and infrastructure for the offshore renewable energy, subsea cable, LNG shipping, and shipbuilding sectors. Its portfolio is organised into six lines: Cable Factory Solutions (vertical layup machines, carousels up to 20,000+ tonnes, patented Basket Drive Systems, storage baskets); Marine Equipment Solutions (offshore carousels 2,000–10,000+ tonnes, loading towers, cable chutes, system integration); Cable Logistics (equipment rental up to 7,000-tonne carousels, engineering & project management, cable storage hubs, offshore cable reels — 1,000+ reels delivered since 2006); Fabrication (heavy steel and aluminium fabrication with EXC4 certification at Klaipėda); Shipbuilding (commercial vessels, repair, aluminium hulls at Groningen and Klaipėda shipyards up to 135m); and PASSER Marine (cryogenic insulation for LNG tanks including PU spray foam, Tough Coat® surface protection, panel and pipe insulation).

The company monetises through three primary mechanics: (i) direct enterprise sales of custom-engineered capital equipment to cable manufacturers, offshore wind developers, and installation contractors on a project-quoted basis; (ii) an equipment rental fleet (PASSER LARS) and quayside storage services in Rotterdam and Taiwan providing flexible mobilisation for cable installation campaigns; and (iii) professional services including engineering consultancy, fabrication, shipbuilding, and cryogenic insulation installation/maintenance. Pricing is not publicly disclosed; all major projects are bespoke. Passer is majority owned by Norwegian investment firm Farvatn Private Equity (since 2016) and operates through wholly owned subsidiaries PASSER Products, PASSER LARS, PASSER SIDC, and PASSER Marine, plus majority-owned PASSER Lanyu (China, 2018) and PASSER Marine Korea (2023), which are being unified under a single PASSER brand by mid-2026. The company holds prequalifications from all major classification societies and ISO 9001/14001/45001 certifications, positioning it as an incumbent supplier for cable factory capex, offshore wind installation campaigns, and LNG-fueled vessel newbuilds globally.

Name

Passer Group

Legal name

PASSER AS

Website

https://passergroup.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

251–500 employees

Short description

Passer Group is a Norwegian industrial group that designs, manufactures, and services custom cable handling equipment, offshore carousels, cryogenic LNG insulation, and ships for offshore wind developers, cable manufacturers, LNG vessel operators, and marine contractors worldwide.

Ownership category

akta.pro rank

Product category

Offshore Cable Handling Equipment

NAICS

Overhead Traveling Crane, Hoist, and Monorail System Manufacturing (333923), Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411), Marine Cargo Handling (488320), Ship and Boat Building (33661), Ship Building and Repairing (336611)

SIC

Construction Machinery & Equip (3531), Services-Miscellaneous Equipment Rental & Leasing (7350), Industrial Trucks, Tractors, Trailors & Stackers (3537)

akta.pro primary industry

Lifting & Hoisting Rental & Leasing (IMAHAJAN)

akta.pro secondary industries

Construction & Industrial Equipment Rental/Leasing (Earthmoving, Material Handling, Aerial) (TLABAHAF), Bulk Material Handling Systems (Belt Conveyors, Feeders, Stackers, Reclaimers) (IMAHABAH)

Keywords

• Offshore cable handling
• Cable manufacturing equipment
• Cryogenic insulation systems
• Shipbuilding services
• Metal fabrication services

Headquarters

HQ city

Sandefjord

HQ country

Norway

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Equipment Manufacturing & Sales: Custom design, engineering and fabrication of cable handling equipment including carousels, vertical layup machines, loading towers, cable reels, and baskets sold to cable manufacturers and installation contractors. Equipment delivered as bespoke projects with engineering, fabrication, and commissioning support.
2. Equipment Rental: PASSER LARS rental fleet offering carousels (up to 7,000 tonnes), loading towers, tensioners, and ancillary equipment for short campaigns, project hire, or call-off agreements. Includes mobilisation crews and technical support.
3. Fabrication Services: Heavy steel and aluminium fabrication for offshore structures, marine equipment, and shipbuilding. Fabrication facilities in Klaipėda with EN 1090-2 EXC4 certification for structural fabrication.
4. Cryogenic Insulation: PASSER Marine provides insulation solutions for LNG tanks and piping systems on vessels and land-based applications. Includes new building, maintenance and repair services.
5. Engineering & Project Management: Engineering services and project delivery for cable installation campaigns including structural/mechanical engineering, installation feasibility studies, hazid workshops, lift plans, and sea-fastening analysis.
6. Cable Storage & Logistics: Strategic storage hubs in Rotterdam and Taiwan with quay access for export cable, array cable, and reserve storage. Services include mobilisation support and integration with rental equipment.
7. Consultancy Services: Independent senior engineering advice for offshore cable projects including technical assessments, equipment selection, risk analysis, and offshore operations support.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Passer Group designs, engineers, fabricates and delivers custom cable handling equipment — including carousels, vertical layup machines, loading towers, cable reels and basket drive systems — to subsea cable manufacturers, offshore wind developers and installation contractors, and also provides cryogenic insulation solutions for LNG vessels and terminals, heavy steel and aluminium offshore fabrication, and commercial shipbuilding & repair. The group sells capital equipment directly, rents equipment through PASSER LARS, and offers engineering, project management and cable storage/logistics services to support offshore renewable energy and marine customers worldwide.

Product overview

PASSER Group is an industrial group providing equipment and services for offshore cable handling and manufacturing, metal fabrication, shipbuilding, and cryogenic insulation solutions. The portfolio is organized into Cable Factory Solutions (vertical layup machines, carousels, basket drive systems, baskets for cable manufacturing), Cable Logistics (equipment rental, engineering/project management, consultancy, storage, cable reels), Marine Equipment Solutions (offshore carousels, loading towers, cable chutes, system integration for cable installation vessels), PASSER Marine (cryogenic insulation for LNG tanks including PU spray foam, heavy duty, panel and pipe insulation), Fabrication (offshore steel/aluminium fabrication with direct quay access), and Shipbuilding (commercial vessel construction, repair and aluminium fabrication). The company operates through subsidiaries including PASSER Products, PASSER LARS, PASSER SIDC, and PASSER Marine, unified under one brand since November 2025.

Differentiator

Problem solved

Functional benefit

Brands

• PASSER Marine: Cryogenic insulation solutions for sustainable shipping and land-based applications, specializing in technical insulation for IMO type A, B & C tanks.
• PASSER LARS
• PASSER Products
• PASSER SIDC
• PASSER Lanyu

Products and services

• Vertical Layup Machines (VLM) Production equipment for HVAC three-core subsea power cables that twist three insulated conductor cores, fibre optics and filler strands into precise helical structures, available in 250, 500 and 750 tonne basket capacities (also documented up to 1,500T), sold to cable manufacturers building new HVAC production lines.
• Cable Carousels High-capacity cable production and storage carousels for power cables, umbilicals and flexible pipes with capacities up to 20,000+ tonnes, featuring PASSER's proprietary wheel technology validated for up to 80,000 hours maintenance intervals.
• Basket Drive System (BDS) Mobile drive unit with patent-protected connection mechanism that serves multiple storage baskets, providing a more cost-efficient spooling alternative to fixed carousels and enabling one self-propelled drive to handle multiple basket positions.
• Cable Storage Baskets Standard and collapsible storage baskets for coilable cable offering a cost-efficient alternative to carousels for storage-only or spooling applications, with optional Basket Drive System interface.
• Offshore Cable Reels Custom-engineered reels for subsea cable, umbilicals and offshore mooring applications, with DNV verification standard and more than 1,000 reels delivered worldwide since 2006.
• Offshore Carousels Precision-engineered offshore carousels for subsea cable installation vessels with capacities from 2,000 to 10,000+ tonnes, available in wheel-and-track or slewing bearing designs with real-time cable tension, speed and position monitoring.
• Loading Towers Vertical cable handling systems with Laser Grid X positioning and LIDAR Y positioning sensors, featuring interchangeable lower quadrants and pivoting goose-neck arms for precise cable alignment during subsea cable installations.
• Cable Chutes Custom-built overboarding chutes for gentle, secure cable transfer from vessel to seabed, available in low-friction plate surface or roller configurations for various cable types.
• System Integration Services Complete integration of carousels, loading towers and deck spread equipment into unified cable handling systems with centralized monitoring and automated safety systems, sold to installation vessel operators and offshore wind developers.
• Cable Handling Equipment Rental (PASSER LARS) Rental fleet offering carousels (up to 7,000 tonnes capacity), loading towers (5–15 tonne tension), tensioners (15–60 tonnes) and ancillary equipment for short campaigns, project hire or call-off agreements, including mobilisation crew and technical support options, mobilised from Alkmaar, Netherlands.
• Cable Storage Services Strategic storage hubs in Rotterdam (European market) and Taiwan (Asia Pacific market) with deep-water quay access for export cable, array cable and reserve sections, including 24-hour secure site monitoring and mobilisation support.
• Engineering and Project Management Services Structural and mechanical engineering, installation feasibility studies, lift plans, sea-fastening analysis, hazid workshops and offshore installation procedures for offshore cable projects, supplied standalone or bundled with equipment.
• Subsea Cable Consultancy Independent senior engineering advice for offshore cable projects including technical assessments, equipment sizing, risk analysis, HAZID/HAZOP support and planning guidance, sold as standalone consultancy or in support of cable installation campaigns.
• PASSER Marine Cryogenic Insulation Systems Technical insulation solutions for LNG storage including PU spray foam, heavy duty insulation, panel insulation and pipe insulation for IMO type A, B and C tanks, including the patented Tough Coat surface protection, with boil-off rates as low as 0.25%/24h at 350–450 mm insulation thickness.
• Maintenance and Repair Insulation Services Insulation inspection and repair solutions for LNG tankers during new building, dry docking or voyage operations, including upgrade recommendations, sold to LNG shipowners and operators on a service basis.
• Multicoil Dryers and Coolers Continuous dryer/cooler units for bulk materials using indirect heat exchange via saturated steam or water in rotating coils, with maximum water evaporation of approximately 10 tons/hour, sold as industrial products.
• Shipbuilding Services Complete vessel construction and repair at Groningen, Netherlands (vessels up to 135 m length) and Klaipėda, Lithuania facilities, including assembly, outfitting, electrical work, pipelines, surface treatment and engineering, with EN 1090-2 EXC4 and EN ISO 3834-2 certifications.
• Commercial Vessel Construction Construction of cargo ships, cement carriers, passenger ferries, workboats and offshore support vessels including hull fabrication, outfitting, systems installation and sea trials, delivered at Groningen and Klaipėda yards.
• Aluminium Vessel Fabrication Aluminium fabrication services for lightweight marine structures using marine-grade 5083 alloys with EN ISO 9606-1 certified welding procedures, for offshore wind and passenger vessel sectors.
• Ship Repair and Modernisation Complete vessel overhaul services including structural repairs, system upgrades, propulsion overhauls, electrical modernisation and accommodation refurbishment at Netherlands and Lithuania facilities.
• Yacht Doors Turnkey customised yacht doors manufactured in aluminium or mixed metals to customer specifications, including installation of twist lock and hydraulic locks, sold as a fabrication product to yacht builders.
• Offshore Steel Fabrication Heavy steel and aluminium fabrication for offshore structures and equipment including carousels, loading towers and tensioners with capacities from 2,000 to 10,000 tonnes, using the EN 1090-2 EXC4-certified Klaipėda facility with direct deep-water quay access.

Quantifiable outcome

• Carousel wheel technology tested to 80,000 hours operational service life with 65 years equivalent lifetime under typical conditions
• +3 more outcomes

Named customers17 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Royal IHC: Dutch provider of integrated shipbuilding, equipment and lifecycle services for the dredging, offshore and mining markets. Comparable to PASSER in offshore heavy equipment manufacturing (cable lay systems, winches, deck machinery) and shipbuilding services.
• Damen Shipyards: Dutch global shipbuilder with yards across Europe and worldwide producing workboats, offshore support vessels, ferries and naval vessels. Overlaps with PASSER SIDC's shipbuilding and aluminium vessel fabrication business; Damen is also a current PASSER customer.
• Chart Industries: US-based global manufacturer of cryogenic equipment and LNG/liquefied gas infrastructure including insulation systems for LNG transport and storage. Comparable to PASSER Marine's cryogenic insulation solutions across LNG fuel tanks and cargo containment, with a broader product portfolio.
• Liebherr: Swiss-German family-owned manufacturer of a broad range of heavy equipment including maritime cranes, ship-to-shore container cranes and offshore cranes. Comparable to PASSER's offshore crane and lifting equipment offerings but with vastly broader industrial diversification.
• Konecranes: Finnish global leader in cranes, hoists and material handling equipment with a growing offshore and port solutions portfolio. Overlaps with PASSER's heavy lifting and cable handling equipment manufacturing but at a much broader scale across industrial, port and energy markets.
• MacGregor: Part of Cargotec/Konecranes, MacGregor is a global provider of marine cargo handling, offshore load handling and load-handling solutions for shipping, offshore and naval customers. Comparable to PASSER's offshore carousels, loading towers and cable handling systems but with a much broader portfolio including hatch covers, deck cranes and offshore cranes.

Direct peers

• GTT (Gaztransport & Technigaz): French engineering company specialising in cryogenic membrane containment systems for LNG carriers and LNG-fueled vessels. Comparable to PASSER Marine for cryogenic insulation on LNG vessels, though GTT focuses on membrane technology whereas PASSER focuses on PU spray foam and panel insulation.
• Huisman: Dutch-headquartered designer and manufacturer of heavy construction equipment, offshore cranes, carousels and cable lay systems for the offshore wind, oil & gas, and maritime sectors. Huisman is PASSER's closest direct competitor in the marine cable handling equipment market, serving overlapping customers such as Boskalis, DeepOcean and major offshore wind developers.
• TTS Group: Norwegian provider of marine and offshore deck machinery, including cable lay equipment, winches, A-frames and tensioners for offshore vessels. Directly comparable to PASSER's marine equipment solutions business serving cable installation contractors and offshore vessel operators.
• Caley Ocean Systems: UK-based specialist in subsea cable handling and storage systems including carousels, loading towers and chutes for cable lay and offshore wind installation vessels. Direct competitor to PASSER's marine equipment offerings with a similar focus on offshore wind installation contractors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/passer-as
• Facebookfacebook.com/passergroup

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Passer Group