Wärtsilä has acquired Spain-based underwater services provider Burriel Navarro for an undisclosed sum.
Established in 1969, Burriel Navarro currently operates in the main ports of Spain with 20 employees.
The company primarily offers various underwater works such as inspection, repair and hull cleaning. Its annual revenue is around €1.3m.
The acquisition will increase Wärtsilä’s footprint in the underwater services field and will serve the customers operating in the European shipping routes in a better way.
The deal is also expected to help Wärtsilä to further develop its propulsion-related services, while it will boost competences on the underwater services market to promote the goal of facilitating sustainable societies with smart technology.
Burriel Navarro will be part of Trident, which was acquired by Wärtsilä this year and develops environmentally friendly hull cleaning equipment.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Wärtsilä Services Area North Europe vice-president Tamara De Gruyter said: “The acquisition supports us in our goals of environmental responsibility by providing us with better access to local ports.
“The agreement also brings us great opportunities to provide more value-adding services and shorter response times for our customers.”
In a separate development, Wärtsilä announced a plan to sell its pumps business to Solix Group.
Wärtsilä Pumps has been operating under Wärtsilä Marine Solutions and became part of the company following the acquisition of Hamworthy in 2012.
With the divestment, Wärtsilä aims to put more focus on its Smart Marine vision, which involves the rapid introduction of new technologies.