Deals



Brunvoll acquires Scana Propulsion


Posted: 8th May 2017 09:06

Brunvoll AS in Norway has signed an agreement with Incus Investor to acquire all of the shares in Scana Propulsion, including Norway-based subsidiaries Scana Volda and Scana Mar-El, and three sales companies in the US, Singapore and China.

Brunvoll Holding has also signed an option agreement for the acquisition of Scana Volda AS Real Estate, which owns the manufacturing and office facilities of Scana Volda AS.

Brunvoll supplies thruster units to the global market and is a family-owned company with its head office and production facility in Molde. Over the years it has supplied many thrusters for offshore vessels and a wide range of other ships, such as ferries.

Chairman Arthur Brunvoll said the deal showed that the company is “thinking long-term” and would like to develop Brunvoll to meet the market with a broader product portfolio. “We have a stated strategy where quality in all aspects of development and production with a high degree of automation in Norway are central,” he said.

Scana Propulsion AS is a supplier of gear and propeller systems with associated control systems and has a complementary product range to Brunvoll.

Odd Tore Finnøy, chief executive at Brunvoll, said the acquisition “is a strategic move” in which the aim “is to create a win-win situation for both companies, which will offer our customers even better, more comprehensive solutions.

“Customers demand complete and comprehensive solutions, with low life-cycle costs and energy efficiency. We are strengthening our position in the market with this acquisition,” Mr Finnøy concluded.


Related articles



Comments


close

Subscribe to our newsletter

Sign up here and get the latest news and updates delivered directly to your inbox

You can unsubscribe at any time