Norwegian maritime technologies company Kongsberg Maritime is set to acquire Berg Propulsion, a Swedish designer and manufacturer of integrated propulsion and electrical systems for the maritime market.
When announcing the acquisition, Kongsberg Maritime said that the move represents a strategic step to strengthen its propulsion portfolio, gaining the benefits of Berg Propulsion’s strong entrepreneurial culture, lean operations and speed in execution.
Financial details have not been disclosed, but the acquisition is priced at approximately the same EV/EBITDA level as the current pricing of Kongsberg Maritime, the firm said.
“This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments. Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support, and shared expertise,” said Lisa Edvardsen Haugan , CEO of Kongsberg Maritime.
The combined portfolio will cover a full spectrum of technologies, including controllable pitch propellers and thrusters, hybrid and electrical propulsion systems and integrated vessel control solutions.
Following completion, Berg Propulsion will operate as a separate brand and standalone business unit within Kongsberg Maritime’s Propulsion & Handling division. The transaction is subject to certain conditions, including customary regulatory approvals.
“Joining forces with Kongsberg Maritime is an exciting opportunity for Berg Propulsion. Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities,” said Philip Chaabane , CEO of Berg Propulsion.