Acquisitions and divestments

Wärtsilä’s strategic goal is to maintain the leading position in its field and to grow further. This is done by providing customers with the best lifetime efficiency and reliability in the market through an integrated offering that meets their business needs throughout the world. Wärtsilä will also grow by adding to the offering new products and services that help customers operate their power systems more efficiently and safely. Wärtsilä will increase its capabilities in automation as well as strengthen its offering of solutions for environmentally safe and reliable power system operations through a combination of organic growth, partnerships, and acquisitions.

Information about acquisitions and divestments prior to the beginning of 2005 can be found in the press release archive.

Read more about the history of Wärtsilä in the About us section.

Acquisitions

DateCompanyDescription
June 2022PortLink GlobalAcquisition of PortLink Global, a global port solutions company headquartered in Vancouver, Canada. The move will speed Wärtsilä Voyage along its path towards creating an end-to-end connected maritime ecosystem in which intelligent port logistics solutions play a nodal role. PortLink has a global partnership with more than 3,500 users and a customer network in more than 20 countries. Its existing workforce of approximately 20 professionals will be integrated within Wärtsilä Voyage’s business. The transaction was signed and closed in June 2022.
Link to release 15.6.2022
May 2019Ships Electronic Services Ltd
Acquisition of Ships Electronic Services Ltd (“SES”), a UK based company specializing in navigation and communication electronics, installation, maintenance and repair services, mainly for commercial and leisure vessels. The acquisition was signed and closed on 2 May 2019. SES, established in 1974, has its headquarters in Rochester and operates also out of nine other offices in the UK. The company, together with its wholly-owned subsidiary Greenham Regis Ltd, holds a strong local presence across the local marine service market. SES’ turnover is approximately GBP 10m and the company employs 47 staff. The enterprise value of the transaction is GBP 3.2m.
Link to release 2.5.2019
October 2018Burriel Navarro, S.L
Acquisition of Burriel Navarro, S.L, a company operating in underwater services in the main ports of Spain. The acquisition supports the growth of Wärtsilä’s underwater services and expands the company’s local presence in the European market. Burriel Navarro has 20 employees and its annual revenue is approximately EUR 1.3 million. The acquisition was signed and closed on 31 October 2018.
Link to release 31.10.2018
March 2018TransasAcquisition of Transas, a global company headquartered in the U.K. The move will speed Wärtsilä along its path towards its Smart Marine Ecosystem vision. Transas is a global market leader in marine navigation solutions. Transas’ current annual net sales are in the region of EUR 140 million. The company has 22 regional offices worldwide and a distribution network that spans 120 countries. It has a workforce of approximately 1000 employees who will be integrated within Wärtsilä’s Marine Solutions business. The transaction is valued at MEUR 210 (enterprise value). Control of the company will be transferred to Wärtsilä effective from 4 May, 2018.
Link to release 19.3.2018
Link to release 4.5.2018
February 2018LOCK-N-STITCHWärtsilä is expanding the service offering of its QuantiServ business line with the acquisition of the American engineering company LOCK-N-STITCH. The acquisition strengthens Wärtsilä’s service portfolio for customers operating multiple brands. Ownership of LOCK-N-STITCH was transferred to Wärtsilä on February 1, 2018.
Link to release 2.2.2018
December 2017Trident B.V.Acquisition of Trident B.V., a Netherland based company specialised in underwater ship maintenance, inspection, and repair services. Through the acquisition Wärtsilä becomes the first global operator in the underwater services market. Wärtsilä has a long history in providing underwater services through partners. With this acquisition, the company builds in-house competence, captures the full potential of services' product synergies, and strengthens its position in the market. The enterprise value of the transaction is EUR 17.5 million and an additional EUR 3.5 million earn-out, based on the business performance in the coming years. The turnover of Trident is approximately EUR 9 million.
Link to release 21.12.2017
October 2017Guidance Marine LimitedAcquisition of Guidance Marine Limited, a privately owned company with offices in the UK, Singapore and the USA. Guidance Marine is recognised as a technology leader in the marine industry for sensor solutions relating to dynamic positioning and other vessel control systems. The acquisition of Guidance Marine will enhance Wärtsilä's capabilities in the area of situational awareness and near-field measurement, both essential for more intelligent vessel navigation. The transaction is valued at GBP 14 million (enterprise value) including a maximum deferred payment of GBP 4 million. In 2016, Guidance Marine’s turnover was GBP 6 million. Guidance Marine employs more than 50 people worldwide.
Link to release 10.10.2017
October 2017Puregas SolutionsAcquisition of Puregas Solutions, the Sweden based provider of turnkey biogas upgrading solutions. Puregas is a leading player in its field with subsidiary companies in Germany, Denmark, the U.K., and the USA. The company utilises a unique CApure process to convert raw biogas to biomethane and renewable natural gas. The transaction is valued at SEK 280 million (enterprise value) with an additional maximum sum of SEK 70 million to be paid based on the performance of the business in the coming year. In 2016, Puregas Solutions’ turnover was SEK 200 million. The company currently has approximately 40 employees.
Link to release 4.10.2017
May 2017Greensmith Energy Management Systems Inc.Acquisition of Greensmith Energy Management Systems Inc., a US-based leader in intelligent energy storage technology and solutions. The acquisition of Greensmith will enable Wärtsilä to expand its footprint in the energy storage market and position itself as a leading global energy systems integrator. In 2016, Greensmith’s revenues were USD 32 million with over 40 employees. The transaction is valued at USD 170 million (enterprise value). Ownership of the company was transferred to Wärtsilä with effect from 3 July 2017.
Link to release 15.5.2017
Link to release 3.7.2017
June 2016EniramAcquisition of Eniram, a Finland-based technology company providing the marine industry with energy management and analytics solutions. Eniram provides the maritime industry with energy management technology to reduce fuel consumption and emissions. In 2015, Eniram's turnover exceeded EUR 10 million with 89 employees worldwide. Eniram will initially continue as a strong independent business entity supported by Wärtsilä's global capabilities. The transaction is valued at EUR 43 million (enterprise value). Ownership of the company will be transferred to Wärtsilä with effect from 1 July 2016.
Link to release
June 2016Weir American HydroAcquisition of the USA and Canada based company Weir American Hydro from the Weir Group plc. American Hydro is a leading supplier and installer of large equipment upgrades and servicing for the hydroelectric and water distribution industries, specializing in consultancy, design and precision performance enhancements for hydro-turbines and pumps. With its headquarters in York, Pennsylvania, USA and a service center in Montreal, Canada, they currently employ 241 people, with net sales of USD 45.6 million in 2015.
Link to release
May 2015L-3 Marine Systems InternationalWärtsilä Corporation acquired L-3 Marine Systems International from NYSE-listed L-3 Communications Holdings Inc. L-3 Marine Systems International (L-3 MSI) is a business sector within L-3’s Electronic Systems business segment primarily focused on the commercial ship industry. The transaction is valued at MEUR 285 (enterprise value). After estimated adjustments of cash, working capital, and pension liabilities, the purchase price is estimated to be MEUR 295. The final purchase price will be determined based on closing accounts. The acquisition received Korean merger control clearance in March and EU clearance in April.
Link to the release
March 2012MMI Boiler Management Pte LtdAcquisition of assets and business of MMI Boiler Management Pte Ltd., a Singapore-based company specialising in the service and maintenance of boilers for marine and industrial applications. The company's activities include the service, maintenance, repair and installation of boilers, for both marine and land-based customers. MMI Boiler Management's net sales were approximately EUR 5.3 million in 2011, and the company has 138 employees.
Link to the release
January 2012HamworthyAcquisition of Hamworthy, a global provider of specialist equipment and services to the marine, oil & gas and industrial sectors. Hamworthy employs around 1,150 people worldwide. Headquartered in Poole (UK), Hamworthy has design, manufacture and sale of equipment facilities in the UK, Norway, Denmark, Germany, Singapore, and a modern assembly plant in China. In its most recent financial year, ended 31 March 2011, Hamworthy achieved revenue of GBP 181.6 million (2010: GBP 214.3 million) and underlying operating profit of GBP 13.8 million (2010: GBP 19.7 million).
Link to the release
July
2011
CedervallAcquisition of one of the leading manufacturers of shaft seal and bearing systems for the marine industry, Cedervall. Headquartered in Gothenburg, Sweden, the company also has subsidiaries in Spain, China and Singapore, with manufacturing facilities in Sweden, China and Spain. In 2010, the company's annual net sales were SEK 344 million (EUR 39 million) and its profitability was on a good level. The company employs 211 people.
Link to the release
September 2008Conan Wu & Associates Pte Ltd (CWA), SingaporeAcquisition of a leading naval architecture and ship design company Conan Wu & Associates Pte Ltd (CWA), headquartered in Singapore. The price of the deal is EUR 23 million. In 2007 the turnover generated by CWA's businesses was EUR 10.7 million and the profitability was on a very good level. CWA has 66 employees in Singapore. CWA will be integrated into Wärtsilä Ship Design within the company's Ship Power business.
September 2008Navelec SAS, FranceAcquisition of Navelec SAS, a French company specializing in marine navigation and communication systems, electrical marine services, and control and automation services. Navelec’s annual net sales were 7 million euros in 2007. The company employs 45 people, of which 26 are field service personnel. Navelec’s businesses will be integrated into Wärtsilä Services’ business in France. The value of the deal is not published.
July 2008Vik-Sandvik, NorwayAcquisition of the global ship design group Vik-Sandvik, a leading independent group providing design and engineering services to ship owners and the ship building industry worldwide. The value of the acquisition is EUR 132 millions, with an additional maximum sum of EUR 38 millions to be paid based on the performance of the business over the next three years. In 2007, Vik-Sandvik’s turnover was EUR 55 millions and the profitability is on a very good level. The number of employees is 410.
June 2008Claus D. Christophel Mess- und Regeltechnik GmbH (CDC), GermanyAcquisition of the German company Claus D. Christophel Mess- und Regeltechnik GmbH (CDC), which specializes in the design, delivery and service of automation systems for ship owners and yards. Annual sales were EUR 2.1 million in 2007. The company employs 12 people.
April 2008International Combustion Engineering A/S (I.C.E.), DenmarkAcquisition of the Danish company International Combustion Engineering A/S (I.C.E.). The company specializes in project engineering and the service and repair of steam boilers and ancillary burner systems. Annual net sales 46,8 million Danish crowns (EUR 6.3 million), number of employees 30. The acquisition expands Wärtsilä's service offering into the new category of boiler services.
March 2008Maritime Service AS, NorwayAcquisition of Maritime Service AS. The company specializes in ship service, mechanical and reconditioning services. Net sales appr. EUR 3.2 million, number of employees 28.
August 2007Electrical Power Engineering (Scotland) Ltd.Acquisition of a Scottish company Electrical Power Engineering (Scotland) Ltd. The company specializes in electrical power engineering solutions for marine, offshore, industrial and utilities segments. Net sales appr. EUR 20 million, number of employees 31.
May 2007Marine business of Railko Ltd., UKAcquisition of part of the marine business of Railko Ltd. in the UK, a company specializing in syntetic stern tube bearing technology. Net sales of the marine business is about EUR 6 million and the number of employees is 25.
May 2007McCall Propellers Ltd., UKAcquisition of the UK-based propeller repair company McCall Propellers Ltd. The company's net sales are GBP 6.4 million (EUR 9.4 million).
February 2007Senitec AB, SwedenAcquisition of the swedish company Senitec AB in Varberg. The company is privately-owned and specialized in environmental technology products for separating waste such as oily water and sludge in power plants, harbours and ships.
January 2007Marine Propeller (Pty) Ltd, South AfricaAcquisition of the entire business of the South African company Marine Propeller (Pty) Lts in Cape Town, South Africa. The company is privately owned and focuses mainly on repairing propellers.
December 2006SCHIFFKO, GermanyAcquisition of the German ship design company group SCHIFFKO. The company specializes in the planning and design of ships especially in the container, research and offshore vessel segments. The acquisition supports Wärtsilä's strategic focus to grow as a system integrator and provider of total solutions to the shipping and shipbuilding market.
October 2006Stockholms fartygsreparationer AB, Sweden
Acquisition of the Swedish company Stockholms Fartygsreparationer. The company handles all types of ship repair on the eastern coast of Sweden. The acquisition is a base for further expansion along the Swedish east coast and a part of Wärtsilä’s strategy to expand the business operations of the Wärtsilä Services.
July 2006INTEC Injectortechnic GmbH, Germany
Acquisition of German company specialized in fuel injection equipment, providing installation and services of injection components for marine diesel engines. The acquisition strengthens Wärtsilä’s competence in the area of this important engine technology.
February 2006Diesel Technology Solutions BV (DTS),
the Netherlands
Acquisition of component machining capacity, secures added capacity to handle current high order book at Vaasa and Trieste factories.
February 2006Total Automation Ltd, Singapore
Acquisition of company in marine automation, strong foothold in offshore and LNG sectors. Part of strategy to strengthen position as Total Service supplier. Complements earlier automation and electrical automation acquisitions. Acquisition price appr. EUR 61.6 million.
February 2006Aker Kvaerner Power and Automation Systems AS (AKPAS), Norway
Acquisition of supplier of power and automation systems for oil & gas, marine and industrial markets. Part of strategy to strengthen position as Total Service supplier. Complements earlier automation and electrical automation acquisitions. Acquisition price appr. EUR 12 million.
December 2005Gerhardt Holding Co., Inc., United States
Acquisition of company in servicing control and automation equipment for gas and diesel engines. Part of growth strategy in Services. Acquisition price EUR 8.6 million.
March 2005DEUTZ AG, Germany
Acquisition of DEUTZ AG's medium and large marine engine service business. In line with strategy to expand Service business by increasing scope of services and by acquisitions. Acquisition price EUR 115 million.

Divestments

DateCompanyDescription
September 2021Wärtsilä Tank Control SystemsDivestment of Tank Control Systems business to Svanehøj, a Danish gas pump specialist. Wärtsilä Tank Control Systems design, manufacture, sell and service high-end measurement systems for gas tanks on LNG ships, offshore storage, and land-based LNG terminals. Tank Control Systems is also a leading supplier of safety products and associated systems and solutions for LPG land-based storage and underground cavern storage. The business became part of Wärtsilä as a result of the acquisition of Total Automation in 2006 and has approximately 50 employees based in the UK, France and Singapore with a revenue of EUR 7.5 million in 2020. Closing of the transaction is subject to fulfilment of closing conditions, expected in the fourth quarter of 2021. 
Link to release on 17.9.2021
May 2021Delivery Centre SantanderDivestment of Delivery Centre Santander (“DCS”) to Javier Cavada Corporación Cantabria (“JCCC”). Delivery Centre Santander is a state-of-the-art foundry able to cast the highest grades of NiAlBronze alloys. The facility located in Santander, Northern Spain, employs 45 professionals and has an annual casting capacity of 700 tons. Subject to fulfilment of closing conditions, closing of the transaction is expected in July 2021. 
Link to release on 31.5.2021
March 2021Wärtsilä Euroatlas GmbHWärtsilä announced the divestment of 100% of the shares in Wärtsilä Euroatlas GmbH, to Mimir, a global investment firm based in Sweden. Wärtsilä Euroatlas is providing its global customer base tailormade solutions for high performance power conversion in naval, aviation and mobile land-based applications requiring highest reliability and power density and leading-edge energy efficiency under harsh environmental conditions. Products and services include original design, retrofits, upgrades, maintenance, spare parts and education. The company became part of Wärtsilä as a result of the acquisition of L-3 Communications MSI in 2015 and has 79 employees, based in Bremen, Germany.   
Link to release on 30.3.2021
January 2021Wärtsilä Funa GmbHWärtsilä announced the divestment of 100% of the shares in its Entertainment business, Wärtsilä Funa GmbH, to Videlio SA, a French public limited company. Wärtsilä Entertainment is engaged in the field of design, fabrication, engineering and integration of entertainment systems, illumination, light control, cabin control, broadcast and digital audio distribution and announcement systems for cruise vessels and entertainment parks. These systems are used in the Marine and land-based markets. The company became part of Wärtsilä as a result of the acquisition of L-3 Communications MSI in 2015 and has 172 employees in five countries, with the majority being based in Emden, Germany. The annual revenues were approximately EUR 50 million in 2020. 
Link to release 22.1.2021
October 2020Wärtsilä Valves LtdWärtsilä announced the divestment of 100% of the shares in Wärtsilä Valves Ltd to an affiliate of Evergreen Capital L.P., based in New York, US. Wärtsilä Valves Ltd. supplied the entire range of three long-established brands: Shipham, John Mills and Robert Cort. Its activities included engineering, assembly, testing, sales and delivery of nickel aluminium bronze (NAB) and duplex valves for marine, oil & gas and energy markets. Additionally, Wärtsilä Valves offered applications for Valves’ products, including e.g. FPSO, petrochemical facilities, power generation, LNG, naval marine, marine services, waste water treatment plants and pipelines. Wärtsilä Valves became part of the Wärtsilä group as a result of the Hamworthy acquisition in 2012. The transaction was closed on the 1st of October. 
Link to release 1.10.2020
September 2020Wärtsilä JOVYATLAS GmbHDivestment of 100% of the shares in Wärtsilä JOVYATLAS GmbH to Jacob Waits Industrie GmbH, a German based industry holding. Wärtsilä JOVYATLAS has been manufacturing UPS systems, rectifiers, power inverters, frequency transformers and resistors with related services for many industries already for seven decades. The company became part of Wärtsilä as a result of the acquisition of L-3 Communications MSI in 2015. The company is located in Jemgum in Germany, and currently has some 125 employees. The annual revenues were EUR 20 million in 2019.
Link to release 23.9.2020
December 2019Wärtsilä ELAC Nautik GmbH (ELAC Nautik) 
Divestment of shares in Wärtsilä ELAC Nautik GmbH (ELAC Nautik) to Cohort plc, a UK listed company, specialising in defence, security and related market sectors. ELAC Nautik became part of Wärtsilä as a result of the acquisition of L-3 Communications MSI in 2015. Its main market focus is on hydroacoustic products, including sonars, underwater communication systems and echo systems for small and medium sized military submarines. 
Link to release 12.12.2019
October 2018Wärtsilä PumpsDivestment of Wärtsilä Pumps. Wärtsilä Pumps has belonged to the Wärtsilä Marine Solutions organisation and became part of the company along with the acquisition of Hamworthy in 2012.
Link to release 31.10.2018
September 2016Wärtsilä's power drives businessDivestment of Wärtsilä's Drives products and associated manufacturing.
Link to release 23.9.2016
June 2016Winterthur Gas & Diesel (WinGD) Wärtsilä and China State Shipbuilding Corporation (CSSC) have agreed to transfer Wärtsilä’s 30% minority stake in the two-stroke joint venture Winterthur Gas & Diesel (WinGD) to CSSC. Following the transaction, CSSC owns 100% of WinGD. The two-stroke operations have, until the divestment, been classified as discontinued operations. 
Link to the release
June 2014Wärtsilä TMH Diesel Engine Company LLCDivestment of Wärtsilä's 50 percent share in the joint venture to the other joint venture party Transmashholding.
Link to the release
May 2012MW Power OyDivestment of Wärtsilä's 40 percent share in the joint venture to the other joint venture party Metso.
Link to the release
November 2006Ovako Oy Ab
Divestment of the operating companies owned by Oy Ovako Ab to a company owned by the shareholders of Hombergh Holdings BV, WP de Pundert Ventures BV and Pampus Industrie Beteiligungen GmbH & Co. KG. The divestment of Ovako concludes Wärtsilä’s plan to focus on the company’s core businesses. Wärtsilä registered a tax-free capital gain on the transaction of appr. EUR 49 million.
December 2005Wärtsilä Propulsion Heerlen B.V,
the Netherlands
Divestment. Part of Wärtsilä’s manufacturing strategy.
April 2005Wärtsilä’s manufacturing unit in FranceDivestment of high-speed manufacturing unit in Mulhouse, France to Mitsubishi Heavy Industries Ltd. Completes restructuring programme started in 2003.