Events after the review period

In October, Wärtsilä reached an agreement to acquire Puregas Solutions, the Sweden based provider of turnkey biogas upgrading solutions. Puregas is a leading player in its field, utilising a unique CApure process to convert raw biogas to biomethane and renewable natural gas. The acquisition will provide Wärtsilä with added equipment and expertise in biogas upgrading, and will complement the company’s existing position in the biogas liquefaction market. 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.

Also in October, Wärtsilä reached an agreement to acquire 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, such as collision avoidance and remote control operations. 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.


Add a note?


For the best experience of our Annual Report, please update your browser to a newer version.