Kongsberg Maritime acquires Berg Propulsion
Three months after being spun off from Kongsberg Gruppen, separately listed Kongsberg Maritime (KM) has agreed to buy Sweden’s Berg Propulsion AB, a designer and manufacturer of propulsion and electrical systems for ships.
Financial details have not been disclosed but the acquisition has been priced at approximately the same enterprise value as KM’s current pricing.
The two businesses are complementary: KM is well-placed in high-value performance-driven segments whereas Berg Propulsion has a strong track record in high-volume shipping segments such as general cargo and products tankers, for example.
KM’s Lisa Edvardsen Haugan, CEO, commented: “This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments. Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support, and shared expertise.”
Philip Chaabane, CEO of Berg Propulsion, said: “Joining forces with Kongsberg Maritime is an exciting opportunity for Berg Propulsion. Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities.”
The two companies will offer a wide range of hybrid and electrical propulsion systems, many types of propellers including controllable pitch and other advanced designs, thrusters, and integrated vessel control systems.
