Acquisition takes Wärtsilä underwater
Wärtsilä has acquired Trident Group to become what it believes is the first global operator in the underwater services market.
The €17.5m acquisition of the approximately €9m turnover underwater ship maintenance, inspection and repair services specialist is expected to be finalised at the end of January.
"This acquisition supports Wärtsilä's strategy on several fronts, starting from Wärtsilä's purpose to enable sustainable societies with smart technologies. Reduced fuel consumption, efficiency improvements, and higher utilisation rates are always on the top of the operators' agenda," said Tamara de Gruyter, vice president, North Europe and propulsion system services at Wärtsilä.
Ms de Gruyter noted that Trident, which operates globally, is also a “pioneer” in the development of environmental technology, such as hull cleaning.
The acquisition enables the integration of Trident's services with the analytics of its subsidary Eniram, said Wärtsilä.
Eniram focuses on providing the maritime industry with energy management technology to reduce fuel consumption and emissions.
Trident and Wärtsilä have previously co-operated in research and development, such as the Wärtsilä-Trident Thruster preservation bag.
An additional €3.5m earn-out for Wärtsilä is based on Trident’s business performance in the coming years.
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