Making its third firm acquisition in simply over two years, Danish marine pump specialist Svanehøj has acquired Tustin, Calif., primarily based Complete Cryogenic Services (CCS), a specialist in service and overhaul of submerged pumps on LNG tankers.
The variety of LNG tankers globally has grown by round 40% within the final 5 years, and a sexy service and aftersales market is rising, with Svanehøj decided to realize market share.
CCS has greater than 30 years of expertise within the service and overhaul of submerged cargo, spray, and high-pressure pumps for cargo containment techniques on LNG tankers.
“CCS is a well-known and recognized company that will strengthen our efforts to become the leading service provider of inspections, service, and calibration of cargo equipment in the LNG segment,” says Søren Kringelholt Nielsen, CEO of Svanehøj. “At the identical time, the acquisition is an funding in data and know-how that may assist us develop new services for the vitality transition of transport “
Svanehøj has invested considerably in its service answer enterprise by the sooner acquisitions of Force Technology Marine Equipment Service (2020) and Wärtsilä Tank Control Systems (2022) and the institution of a 1,600 sq. meter service and restore store in Singapore (2021). With the acquisition of CCS, Svanehøj Service Solutions is now positioned on three continents with just below 100 workers, virtually a tenfold enhance in 4 years.
“We have invested significantly in our service business to be close to customers with local service engineers worldwide,” says Morten Christian Larsen. director of service and aftersales at Svanehøj. “Today, Svanehøj can offer integrated solutions with service on safety valves, gauging and instrumentation systems, and submersible cargo, spray, and high-pressure pumps – all carried out by one service provider to make the entire service scope easier and more financially viable.”
With the acquisition of CCS, Svanehøj can even be capable of re-engineer important spare elements for all pump sorts.
Morten Christian Larsen says that it’s important to Svanehøj’s technique of supplying high-quality spare elements for different manufacturers’ tools.
CCS turns into an unbiased a part of Svanehøj Service Solutions and can be named “Svanehøj CCS – Complete Cryogenic Services”. The firm’s 9 workers will proceed to work of their present roles with Henry Smith IV as director. He sees apparent synergies in bringing many years of expertise with submerged LNG pumps into Svanehøj’s rising service enterprise.
“For us, the change of ownership is an opportunity to ensure a future succession and scale our business globally. We have come to know Svanehøj as a company with solid values and a clear vision to help overcome the barriers in the energy transition of shipping. We are very much looking forward to being a part of that,” says Smith.
With the acquisition of CCS, Svanehøj employs 320 folks and has actions in Denmark, the U.Okay., France, Singapore, China, Japan and the U.S.
Svanehøj Danmark is a part of the Svanehøj Group, headquartered in Aalborg, Denmark. Owned by funding firm Solix, the group’s manufacturers embrace each Svanehøj and Hamworthy Pumps. More data at www.svanehoj.com
