2021 September 17 17:26
With its second acquisition in less than a year, Svanehøj expands its OEM activities and adds new skills to its rapidly growing service department for gas tankers, according to the company's release.
Gas is a crucial part of the sustainable energy system of the future, and Svanehøj must be a significant player in the value chain that ensures the supply of gas at a global level.
This is the vision of the Danish gas pump specialist, which is now putting its words into action through the acquisition of Wärtsilä Tank Control Systems (TCS), which employs more than 50 people in the UK, Singapore, and France.
The acquisition of Wärtsilä TCS, historically known as Whessoe, brings Svanehøj unique skills in the production, sale, and service of high-end measurement systems for gas tanks on LNG ships and land-based LNG facilities.
The acquisition of Wärtsilä TCS opens new, exciting opportunities for Svanehøj’s rapidly growing service business, which has almost tripled its revenue since 2018. Svanehøj is already a leading provider of cargo system service for LPG vessels, and the intention is to use the acquisition to achieve a similar position within the larger LNG ship segment.
“With this acquisition, Svanehøj will now be the preferred service provider for about 500 LNG vessels with tank measurement systems from Wärtsilä TCS. Once on board, it will be attractive for many customers to consolidate their service jobs and make use of our competencies within servicing pumps, compressors, valves, and instrumentation,” says Morten Christian Larsen, Director, Service & Aftersales, at Svanehøj.
With the acquisition, he will lead a service department with more than 70 employees and activities in Denmark, UK, China, and Singapore. With an expected increase in activity of initially 30-40%, the plan is to employ additional staff to support the offices in Denmark and Singapore.
As part of the acquisition of Wärtsilä TCS, a new independent business for land-based activities will be established. The business will be based in Calais, France, from where Wärtsilä TCS currently produces measurement systems for land-based LNG systems.
The acquisition of Wärtsilä TCS is Svanehøj’s second in less than eight months. In November last year, Svanehøj took over the service specialist FORCE Technology Marine Equipment Service. Following the most recent acquisition, Svanehøj Denmark employs approximately 230 people and has activities in Denmark, the United Kingdom, France, Singapore, China, and Japan.
Closing of the transaction is subject to fulfilment of closing conditions.
About Svanehøj Danmark A/S
Svanehøj designs and manufactures specialised deepwell pump solutions for vital applications within the areas of gas pumps, fuel pumps, products and chemicals and offshore products. Svanehøj is also a leading service provider of inspections, service, and calibration of cargo equipment on gas, product, and chemical carriers. Svanehøj is part of Svanehøj Group which employs 330 people in Denmark, Singapore, Japan, China, and the UK. The Group manufactures the brands Svanehøj (Denmark), Hamworthy Pumps (Singapore), Eureka and Dolphin (UK).