Finnish Wärtsilä announced that it has acquired Trident B.V., a Netherland based company specialised in underwater ship maintenance, inspection, and repair services. The acquisition is estimated to be closed in January 2018.
The acquisition enables the integration of Trident’s services with Eniram’s analytics. Eniram is a Wärtsilä company focusing on providing the maritime industry with energy management technology to reduce fuel consumption and emissions.
The enterprise value of the transaction is EUR 17.5 million and an additional EUR 3.5 million earn-out, based on the business performance in the coming years.
Trident Group, established in 1993, is an underwater service supplier specialising in repair, overhaul, and maintenance of propulsion systems, hull, and machinery.
Tamara de Gruyter, Vice President, Area North Europe and Propulsion System Services, Wärtsilä Services, commented:“This acquisition supports Wärtsilä’s strategy on several fronts, starting from Wärtsilä’s purpose to enable sustainable societies with smart technologies. Reduced fuel consumption, efficiency improvements and higher utilisation rates are always on the top of the operators’ agenda. At the same time, environmental issues are becoming an integral part of customers´ business planning. Trident is a pioneer in the development of environmentally sound solutions for example hull cleaning.”
Trident and Wärtsilä have previously collaborated in research and development. One result of this co-operation has been the jointly developed Wärtsilä-Trident Thruster preservation bag.
