Wärtsilä divests pumps business but acquires underwater services company

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Technology group Wärtsilä has 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 Wärtsilä Pumps business recorded sales of approximately 50 MEUR in 2017.

The divestment will enable Wärtsilä to devote greater focus to its Smart Marine vision. This is based on the rapid introduction of new technologies, which are creating unprecedented levels of efficiency and cost savings. Wärtsilä says it is committed to leading the industry’s transition towards a smart marine ecosystem through the extensive use of digitalisation and connectivity, as well as deep collaboration with customers and partners.

Headquartered in Aalborg, Denmark, Wärtsilä Pumps designs, manufactures, and markets niche pumps. primarily deepwell and in-line pumps, to the marine and oil & gas industries. The company has had a market presence for more than 100 years, and its brands include Svanehøj, Hamworthy Pumps, Eureka and Dolphin. Its leading products are used in mission critical applications, such as cargo offloading, fuel gas handling, ballasting, engine cooling, fire protection and exhaust gas cleaning, where easy access and safe handling of the equipment is of extreme importance.

“Pumps will continue to be an integral part of Wärtsilä’s various gas and fuel gas system solutions. We foresee a strong future for this business with a dedicated new owner who will become an important supplier to Wärtsilä,” said Timo Koponen, Vice President, Processing Solutions, Wärtsilä.

Wärtsilä Pumps has legal assets in Denmark and Singapore, which together represent a significant share of its operations. Most of the business’s 230 employees are located in those countries. Additionally, there are some 20 people employed in Wärtsilä subsidiaries in seven countries, and in production facilities in China.

Meanwhile, Wärtsilä has acquired 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 will be part of Trident, a Wärtsilä company. Burriel Navarro has 20 employees and its annual revenue is approximately €1.3 million. The acquisition was signed and closed on 31st October 2018.

The acquisition of Burriel Navarro supports Wärtsilä in several areas – from developing its propulsion-related services and strengthening the competences on the underwater services market to supporting its purpose of enabling sustainable societies with smart technology. The acquisition complements the acquisition of Trident in early 2018, bringing opportunities to utilise Trident’s environmentally sound hull cleaning equipment on a wider geographical scale.

Founded in 1969, Burriel Navarro specialises in a range of underwater work, including inspection, repair and hull cleaning. Having its head office in Valencia, the company operates an extensive service network in the main ports of Spain.

With the acquisition, Wärtsilä strengthens its underwater-related services for customers along major European shipping routes and cruise itineraries even better. “The acquisition supports us in our goals of environmental responsibility by providing us with better access to local ports,” said Tamara De Gruyter, Vice President, Area North Europe, Wärtsilä Services. “The agreement also brings us great opportunities to provide more value adding services and shorter response times for our customers.”

“The agreement brings mutual benefits for us and Wärtsilä, and we are excited about paving new ground in underwater services together,” said Fernando Burriel, Managing Director, Burriel Navarro. “We look forward to learning from each other.”

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