MCF supports Wärtsilä in the divestment of its pumps business to Solix Group
Wärtsilä, a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets, has divested its pumps business (“Wärtsilä Pumps”) to Solix Group, a Scandinavian investment company with offices in Denmark and Sweden. MCF acted as financial adviser to Wärtsilä in this transaction.
The Deal
The transaction scope comprises legal entities in Denmark and Singapore as well as employees in Wärtsilä subsidiaries across five countries, and in production facilities in China. The divestment of the pumps business will enable Wärtsilä to dedicate greater focus to its Smart Marine vision: The company 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.
The Target
Headquartered in Aalborg, Denmark, Wärtsilä Pumps designs, manufactures, and markets primarily deepwell and in-line pumps to the marine and oil & gas industries. The business 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 are of high importance. Previously, Wärtsilä Pumps had belonged to the Wärtsilä Marine Solutions organisation and in 2012 became part of the company along with the acquisition of Hamworthy. Wärtsilä Pumps recorded sales of approximately EUR 50m in 2017.
Client Statement
Timo Koponen, Vice President, Processing Solutions, Wärtsilä, said: “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.”
About Wärtsilä
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2017, Wärtsilä’s net sales totalled EUR 4.9 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
