Gula Skrinet has reached an agreement with Caterpillar Luxembourg Sarl to acquire Caterpillar Propulsion and its subsidiaries. The company manufactures mechanically and electrically driven propulsion systems and marine controls for ships.
Headquartered in Öckerö Islands outside Gothenburg, Sweden, Caterpillar Propulsion has been designing and manufacturing heavy-duty marine thrusters and controllable pitch propellers since the late 1920s. The company was formerly known as Berg Propulsion and will revert to that brand once the sales is concluded. This is expected on June 30.
The proposed acquisition includes Caterpillar Propulsion and its subsidiaries, including Caterpillar Propulsion Production and Caterpillar Propulsion Pte. Ltd, its subsidiary Caterpillar Propulsion International Trading (Shanghai) Co. Ltd and its Dubai branch. The transaction will include the manufacturing operations in Sweden and Singapore and office locations in Shanghai and Dubai.
The current team within Caterpillar Propulsion will transfer with the sale, including Stefan Sedersten, previously the COO and shareholder of the former Berg Propulsion. ‘We will honor all existing contracts and agreements and make sure to safeguard a seamless transition,’ says Sedersten. The company will also maintain a close business relationship with Caterpillar Inc., supporting both MaK and Cat marine sales, as well as developing its products and services further with other customers in the marine sector.
Pon Power & Bolier, the official Dutch dealers of Cat and MaK engines, will stay the first point of contact for current and future customers concerning selling and servicing of Cat Propulsion and Berg Propulsion systems.