Denmark’s electric motors and automation solutions supplier Hoyer has merged with marine service provider VMS Group.
The two companies, Hoyer and VMS Group, will create a global one-stop partner for power and motion solutions across marine and industrial markets.
The newly formed company, named Hoyer VMS Group, will organise its commercial activities into three value streams – new sales, project sales, and aftermarket service.
The merger also marks a change in ownership, as VMS Group passes the torch to Hoyer Group.
The Hoyer VMS Group will have around 700 employees (Hoyer 300 and VMS Group 400).
“Behind a stronger combined leadership team, with Henrik Sørensen as CEO and Kim Bengtsen as Deputy CEO, we now offer shipowners and industrial customers a single operations partner that ensures uptime and performance with global reach,” said Søren Ø. Sørensen, chairman of the board, Hoyer VMS Group.
With its combined size, Hoyer claims that the newly formed company immediately becomes one of the most comprehensive maintenance, repair, and overhaul companies in the world.
Headquartered in Hadsten and Frederikshavn, Denmark, and Ningbo in China, the Group will have global offices and hubs in Denmark, Germany, the Netherlands, Poland, China, Japan, South Korea, USA, Brazil, Namibia, and Saudi Arabia.
“This merger represents a strong business case. By uniting Hoyer and VMS into a company with a unique market offering, we see clear potential for long-term value creation and significant market expansion,” added Martin Jørgensen, managing partner in Capidea, which now assumes majority ownership of the Hoyer VMS.
