Kongsberg Maritime to strengthen marine propulsion offering through acquisition of Berg Propulsion
Kongsberg Maritime ASA has announced an agreement to acquire the Swedish company Berg Propulsion AB. The company is a leading designer and manufacturer of integrated propulsion and electrical systems for the maritime market.
The acquisition represents a strategic step to strengthen Kongsberg Maritime’s propulsion portfolio. Berg Propulsion is a well-established player delivering complete propulsion solutions. The company has demonstrated strong growth and a profitable market position in recent years.
Financial details of the transaction are undisclosed, but the acquisition is priced at approximately the same EV/EBITDA level as the current pricing of Kongsberg Maritime ASA.
"This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments,” says Lisa Edvardsen Haugan, CEO of Kongsberg Maritime. “Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support, and shared expertise.”
While Kongsberg Maritime has a strong position in high-value, performance-driven segments, Berg Propulsion has built a leading presence in volume segments such as general cargo and product tankers.
"Joining forces with Kongsberg Maritime is an exciting opportunity,” says Philip Chaabane, CEO of Berg Propulsion. “Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities.”
At the same time, Kongsberg Maritime will further strengthen its position as a global lifecycle partner for propulsion solutions.
Following completion, Berg Propulsion will operate as a separate brand and standalone business unit within Kongsberg Maritime’s Propulsion & Handling division. This approach ensures that Berg’s strong culture, agility and customer focus are maintained. At the same time, Berg Propulsion will gain access to KM’s global scale, systems expertise and structured capabilities.
The combined propulsion portfolio will cover a full spectrum of technologies, including:
Controllable pitch propellers and thrusters
Hybrid and electrical propulsion systems
Integrated vessel control solutions
Together, Kongsberg Maritime and Berg Propulsion will offer the most comprehensive commercial propeller ranges in the market, spanning vessel sizes from standard tonnage to advanced applications.
The transaction is subject to certain conditions, including customary regulatory approvals.