Svitzer, a global provider of towage and marine solutions, has agreed to acquire a 66.6% stake in Buksér og Berging, a leading Norwegian towage and marine services company, pending final regulatory approvals.
Svitzer’s investment represents a partnership opportunity for both companies, with a view to leverage extensive shared knowledge and experience of the global towage, offshore, adjacent maritime service and marine solution markets.
Buksér og Berging is a leading supplier of marine services within port and terminals, towage, offshore work and complex marine operations in Norway.
Svitzer is a leading, global towage and marine services provider with more than 450 vessels globally.
There is no integration activities related to the transaction for either company and Buksér og Berging will continue to operate as a standalone company under its own brand, management, values and strategy.
Buksér og Berging, CEO, Vetle J. Sverdrup: “Our leadership in the Norwegian towage and marine contracting markets is built on our values, tradition and the extensive operational and technical knowledge of our capable teams and their drive to solve challenges for customers. The investment by Svitzer presents an opportunity to continue our legacy and deepen our capabilities with a strategic partner that is a highly regarded, global company with long-term ambitions for Buksér og Berging’s success.”
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 has an advanced fleet of about 35 tugs, 25 pilot boats, three ambulance vessels and one service vessel for salmon farming (delousing vessel). It is headquartered in Oslo, Norway with branch offices in Stavanger and Fedje, outside Bergen.
Svitzer’s 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.
Svitzer CEO, Kasper Nilaus: “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. 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.”
