Svitzer buys into Norwegian maritime services company

Denmark-based towage service provider Svitzer has acquired a majority stake in Norwegian maritime services company Buksér og Berging.

By acquiring a 66.6% stake in the Norwegian company, subject to final regulatory approvals, Svitzer aims to leverage shared knowledge and experience in the global towage, offshore, adjacent maritime service, and marine solution markets.

The transaction does not include integration activities for either company, and Buksér og Berging will continue to operate as a standalone company under its own brand, management, value, and strategy, Svitzer explained.

CEO of Buksér og Berging, Vetle J. Sverdrup, will continue in his role and maintain a 33.4% shareholding position and active ownership of the business.

Buksér og Berging owns a fleet of about 35 tugs, including the recently delivered hybrid tugboat, 25 pilot boats, three ambulance vessels, and one service vessel for salmon farming (delousing vessel).

Svitzer stated that this investment will underpin commitments by both companies to share expertise and excellence in maritime operations; innovation and capabilities in vessel design and operations; and together grow innovation and enhance standards and safety in the towage and marine services sector.

“Buksér og Berging, like Svitzer, has a proud heritage, and our investment is an exciting opportunity for us to join forces and share our respective expertise and leadership positions in the towage and maritime infrastructure markets,” commented Svitzer CEO, Kasper Nilaus.

“I am confident together we will drive innovation and growth for both companies, further cement our decarbonisation credentials, and above all strengthen the value, safety and service offered to customers and their supply chains.”