Wärtsilä aims to strengthen its service offering by taking over Trident BV, a Netherlands based company specialised in underwater ship maintenance, inspection, and repair services.
Through the acquisition Wärtsilä becomes the first global operator in the underwater services market. The company has a long history in providing underwater services through partners. With this acquisition, Wärtsilä wants to build in-house competence.
Trident's Services and Eniram's Analytics
The acquisition enables the integration of Trident's services with Eniram's analytics. Wärtsilä expands its 'vessel-as-a-service' value offering to achieve maximum fuel savings by optimising hull cleaning cycles. Eniram is a Wärtsilä company focusing on providing the maritime industry with energy management technology to reduce fuel consumption and emissions.
Trident Group
Trident Group, established in 1993, is a leading innovative underwater service supplier specialising in repair, overhaul, and maintenance of propulsion systems, hull, and machinery. With fully equipped workshops and certified personnel in the Netherlands, Italy, and Canary Islands, the company serves customers around the globe.
Trident and Wärtsilä have previously co-operated in research and development. One result of this co-operation has been the jointly developed Wärtsilä-Trident Thruster preservation bag.
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. The turnover of Trident is approximately EUR 9 million.The acquisition is estimated to be closed in January 2018.
Picture by Trident.
