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Acquisitions and divestments

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In February, Wärtsilä announced the expansion of its QuantiServ service offering with the acquisition of Lock-n-Stitch Inc., an American engineering company specialised in cast iron repairs. The acquisition strengthens Wärtsilä’s service portfolio for customers operating multiple brands. Wärtsilä also completed the acquisition of Trident BV, a Netherlands based company specialised in underwater ship maintenance, inspection, and repair services. This acquisition enables Wärtsilä to become a leading global operator in the underwater services market. Further supporting the growth of Wärtsilä’s underwater services was the acquisition in October of Burriel Navarro, S.L, a company operating in underwater services in the main ports of Spain.

In March, Wärtsilä announced the acquisition of Transas, a global market leader in marine navigation solutions, professional training and simulation services, ship traffic control, as well as in monitoring and support. The acquisition represents a considerable step forward towards the realisation of Wärtsilä’s Smart Marine vision, whereby smart vessels connect with smart ports and beyond to deliver three fundamental industry benefits: maximising the use of resources and operational efficiency, minimising environmental impact and risk, and achieving the highest levels of safety and security. Valued at EUR 210 million (enterprise value), the transaction closed in May 2018.

In October, Wärtsilä divested its pumps business to Solix Group, a Scandinavian investment company with offices in Copenhagen, Denmark and Malmö, Sweden. Wärtsilä Pumps has belonged to the Wärtsilä Marine Solutions organisation and became part of the company along with the acquisition of Hamworthy in 2012. The divestment enables Wärtsilä to devote greater focus to its Smart Marine vision.

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