Trident Maritime Systems (Trident), a part of JF Lehman & Company (JFLCO), has entered into a definitive agreement to acquire Sweden-based Callenberg Technology Group from Wilhelmsen Maritime Services (WMS).
For the deal, WMS will receive a net sale price of nearly $64m, of which $41m will be in cash at closing, and a seller-financing package of $23m. The deal is expected to complete in the latter part of this year.
With around 900 people in 14 countries, Callenberg designs, assembles, integrates, and supports heating, ventilating / ventilation, and air conditioning (HVAC); electrical energy management; and insulation systems for commercial and government vessels worldwide.
Trident Maritime Systems CEO Tom Eccles said: “The addition of Callenberg adds a highly complementary set of systems and capabilities to the Trident platform which will ultimately allow us to better serve our customers.
“This acquisition also significantly strengthens our presence internationally and improves our ability to support our global customers.”
The company provides marine joiner, electro-mechanical as well as power, propulsion and control systems and solutions for government and commercial customers in the US and abroad.
Wilhelmsen Maritime Services president and CEO Dag Schjerven previously said: “We have in Trident and their principal, JF Lehman & Company, found a strong new owner of Callenberg.
“Having a new owner that operates within the same technology areas creates a perfect environment for employees, customers and future growth of Callenberg with Trident.”
Recently, JFLCO acquired a majority stake in Ravn Air Group through a recapitalisation in partnership with W Capital Partners and one of the company’s founders, the Hajdukovich family of Fairbanks, Alaska.