Marine pump specialist Svanehøj is expanding its OEM activities with the acquisition of Wärtsilä Tank Control Systems (TCS).
Wärtsilä TCS produces, sells and services high-end measurement systems for gas tanks on LNG ships and land-based LNG facilities. The company employs more than 50 people in the UK, Singapore and France.
“The acquisition of Wärtsilä TCS is an expression of our desire to make Svanehøj a globally leading specialist in producing and servicing equipment for handling all types of liquefied gas – natural gas, biogas and not least the Power-to-X-based fuel of the future,” said Søren Kringelholt Nielsen, CEO of Svanehøj.
Wärtsilä TCS opens new opportunities for Svanehøj’s growing service business, which has almost tripled its revenue since 2018. Svanehøj is already a leading provider of cargo system service for LPG vessels, and through Wärtsilä TCS the company is looking to achieve a similar position within the larger LNG ship segment.
“With this acquisition, Svanehøj will now be the preferred service provider for about 500 LNG vessels with tank measurement systems from Wärtsilä TCS. Once on board, it will be attractive for many customers to consolidate their service jobs and make use of our competencies within servicing pumps, compressors, valves, and instrumentation,” said Morten Christian Larsen, director, Service & Aftersales at Svanehøj.
As part of the acquisition of Wärtsilä TCS, a new independent business for land-based activities will be established. The business will be based in Calais, France, from where Wärtsilä TCS currently produces measurement systems for land-based LNG systems.
Wärtsilä TCS is Svanehøj’s second acquisition in less than a year. In November 2020, Svanehøj took over the service specialist Force Technology Marine Equipment Service.