Norway-based thruster supplier Brunvoll AS has agreed to acquire all the shares in Scana Propulsion AS, including subsidiaries Scana Volda AS and Scana Mar-El AS in Norway, and three sales companies located in the U.S., Singapore and China.
Brunvoll 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, a family-owned company with headquarters in Molde, Norway, suppliers thruster units to the global market through an agent network in 25 countries.
In a statement, Chairman Arthur Brunvoll expressed that the company was thinking long term in making the acquisition, and wished to “participate in developing Brunvoll to meet the market with a broader product portfolio.”
Scana supplies gear and propeller systems with associated propulsion control systems for ships, a complement to Brunvoll’s thruster business.
“This acquisition is a strategic move from Brunvoll's side, where the aim is to create a win-win situation for both companies, which together we can offer our customers even better…comprehensive solutions for both propulsion and operation of advanced vessels,” said Brunvoll CEO Odd Tore Finnøy. “We are strengthening our position in the market with this acquisition.”
Scana maintains production facilities for gear and propeller systems in Volda, Norway, and control systems in Dalen in Telemark, Norway, and sales companies in the United States (Mandeville, La.), Singapore and Shanghai, in addition to agents in other countries.
The deal is subject to regulatory approval by the Norwegian Competition Authority. Financial terms were not released.