IWS-owned ProCon merges with Hyndla, strengthening position in offshore wind 

In a statement, IWS Group said the deal will create “a premier integrated partner in the global offshore wind supply chain,” bringing together ProCon’s expertise in electrical outfitting and installation with Hyndla’s specialised engineering capabilities in low-voltage electrical systems and high-voltage cable management.

The parent company will continue to operate under the ProCon brand and, as of now, IWS Services owns 52.5% of the combined entity and 100% of the voting shares. 

IWS Group said the merger is motivated by a vision to industrialise and streamline the delivery of infrastructure for the offshore wind sector. 

ProCon is a leading provider of electrical solutions for transition pieces and offshore substations. Hyndla specialises in electrical engineering and cable management designs. The combined entity will integrate low-voltage electrical engineering and high-voltage cable management with project management and installation services. The ambition for the combined entity is to more than double its revenues by 2030.

“This consolidation addresses the growing demand from offshore wind developers for flexible, scalable and reliable supply chain partners,” said IWS Group. “The combined entity is well-placed for continued growth, supporting clients by optimising project execution timelines, reducing interface risks and lowering costs.”

IWS Services and ProCon reported strong Q3 2025 performance in its core transition piece business, although its entry into the offshore substation services segment led to loss-making contracts, due to size and complexity, that will affect the company’s financials into H1 2026. 

“Based on market-leading offerings and increased competitiveness, we expect a return to revenue growth and improved earnings in H2 2026,” said IWS Group. “For FY 2026, we expect a flat sequential top line for the combined company.”