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Brunvoll AS has signed an agreement with Incus Investor ASA 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 United States, Singapore and China. Meanwhile Brunvoll Holding AS signed an option agreement for the acquisition of Scana Volda AS Real Estate, which owns manufacturing and office facilities of Scana Volda AS.
Brunvoll supplies thruster units to the global market and is a family owned company with head office and production facility in Molde. Chairman Arthur Brunvoll states that the owners with this shows that they are thinking long term and would like to participate in developing Brunvoll to meet the market with a broader product portfolio. We have a stated strategy where quality in all aspects of development and production with a high degree of automation will happen in Norway are central. There are now two companies with a long tradition and expertise in the marine market in Norway and internationally that go along through this acquisition.
As a curiosity may be mentioned that both Brunvoll and Volda - as the company was previously called - is about the same age and have the same background in the development and production of semi-diesel engines in early 1900 - century, says Arthur Brunvoll.
Scana Propulsion AS is a reputable supplier of gear and propeller systems with associated control systems for the propulsion of ships and thus have a complementary product range to Brunvoll.
CEO Odd Tore Finnøy in Brunvoll AS emphasizes that 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 and comprehensive solutions for both propulsion and operation of advanced vessels. Customers demand complete and comprehensive solutions, with low life cycle costs and energy efficiency. We are strengthening our position in the market with this acquisition says Finnøy.
The transaction is subject to approval from the Competition Authority.
Chairman Brunvoll Holding AS / Brunvoll AS Arthur Brunvoll, tel 932 90 000
Managing Director Brunvoll AS: Odd Tore Finnøy, tel 900 60 960
Facts about the companies:
Scana Propulsion AS including subsidiaries had 318 million in revenue in 2015 and has about 160 employees. The company has production facilities for gear and propeller systems in Volda and control systems in Dalen in Telemark, and sales companies in the United States, Singapore and Shanghai in addition to the agent apparatus in some countries. Scana Propulsion AS has strong market positions in propulsion of fishing vessels, vessels for aquaculture, offshore and seismic vessels and merchant ships.
Brunvoll AS had 765 million in revenue in 2015 and has about 300 employees. The company has production facilities in Molde. Brunvoll has agent network in 25 countries. Brunvoll has strong market positions in systems for maneuvering of vessels for offshore, seismic, fisheries and aquaculture, cruise, shuttle tankers, mega yachts, Navy and various specialized vessels.