Incus Investor to sell Scana Propulsion

The transaction includes Scana Propulsion's subsidiaries Scana Volda AS and Scana Mar-El AS in Norway and some smaller subsidiaries in the United States and Asia. Incus Investor acquired Scana Mar-El in 1996 and Scana Volda in 1998. In 2012 they were organised into the Scana Propulsion group of companies together with their subsidiaries abroad.
Bjørn Torkildsen, CEO of Incus Investor, says the sale is part of the company's strategy to create shareholder value through active ownership, acquisitions and sales. It is expected to be finalised on March 15th 2017, assuming approval by Norwegian competition authorities.
In 2015 Scana Propulsion had a turnover of approximately NOK 318 million and a pre-tax loss of about NOK 1 million, according to Incus Investor. It says proceeds from the sale will be NOK 84 million on an enterprise value basis, with a cash- and debt-free balance at closing.