Copenhagen-headquartered towage giant Svitzer Group A/S (Svitzer) has acquired a 66.6% stake in Norwegian towage and marine service company, Buksér og Berging AS.
The deal, subject to final regulatory approvals, will see Buksér og Berging continue operating as a standalone company under its own brand, management, values and strategy.
The chief executive officer of Buksér og Berging, Vetle J. Sverdrup, will continue in his role and maintain a 33.4% shareholding position and active ownership of the business.
Oslo-headquartered Buksér og Berging has a fleet of about 35 tugs, 25 pilot boats, three ambulance vessels and one service vessel for salmon farming (delousing vessel). It has branch offices in Stavanger and Fedje, outside Bergen.
Svitzer, a towage and marine services provider with more than 450 vessels globally, said the investment represents a partnership opportunity for both companies to share expertise of the global towage, offshore, adjacent maritime service and marine solution markets.
There is no integration activities related to the transaction for either company.
Svitzer chief executive officer, Kasper Nilaus, said: “Buksér og Berging, like Svitzer, has a proud heritage, and our investment is an exciting opportunity for us to join forces and share our respective expertise and leadership positions in the towage and maritime infrastructure markets.
“I am confident together we will drive innovation and growth for both companies, further cement our decarbonisation credentials, and above all strengthen the value, safety and service offered to customers and their supply chains.”
From his side, Sverdrup said the deal allows Buksér og Berging to continue its legacy and deepen its capabilities with a strategic partner that is a highly regarded global company with long-term ambitions for Buksér og Berging’s success.
