Wartsila to Divest its Euroatlas Business to Mimir

Source: www.gulfoilandgas.com 3/30/2021, Location: Europe

The technology group?Wartsila ?announces the divestment of 100% of the shares in?Wartsila Euroatlas GmbH,?to?Mimir, a global investment firm based in Sweden.

Wartsila Euroatlas is providing its global customer base tailormade solutions for high performance power conversion in naval, aviation and mobile land-based applications requiring highest reliability and power density and leading-edge energy efficiency under harsh environmental conditions. Products and services include original design, retrofits, upgrades, maintenance, spare parts and education.

The company became part of?Wartsila as a result of the acquisition of L-3 Communications MSI in 2015 and?has 79 employees, based?in Bremen, Germany. ?

Tamara de Gruyter, President, Wartsila Marine Systems and Head of Portfolio Business said: ”We are very pleased to have come to an agreement to sell Wartsila’s Euroatlas business to Mimir. As the business has limited synergistic links with Wartsila, we believe that under new ownership the company gets an opportunity to further drive their business success independently.”.

Jeff Bork, Managing Partner Operations of Mimir,?said:?“The?Wartsila Euroatlas business offers compelling growth potential.?We?will focus on scaling Euroatlas serving existing and new customers with our strong portfolio of competences and knowhow".?

Sven Soetebier, Managing Director, Euroatlas GmbH. said: “Mimir is specialised in acquiring non-core business units of larger corporations. Their long-term focus on operational value creation provides a solid framework to actively support sustainable and profitable growth. Mimir will provide strategic, financial and operational support, enabling us to pursue growth and expansion. We look forward to being an independent company and working with Mimir to further develop the Euroatlas business”

Subject to approvals, closing of the transaction is expected in the third quarter of 2021.


Spain >>  1/19/2022 - Holaluz, a green technology company listed on the BME Growth since November 2019, announced the acquisition of installation companies Katae Energí...
France >>  1/18/2022 - CGG has announced the signature of a binding offer with Pramena Investment & Anacap Financial Partners for the sale and leaseback of Galileo, its head...

United States >>  1/18/2022 - Clearfork Midstream LLC has secured a capital commitment from EnCap Flatrock Midstream (“EFM”) and has entered into a definitive agreement to purchase...
United States >>  1/18/2022 - Rosewood Private Investments (“RPI” or “Rosewood”) is pleased to announce the acquisitions of American Petroleum Sales and Service (“AMPET”) and Petro...

Germany >>  1/14/2022 - Sunfire is preparing the rapid expansion of its manufacturing capacities for alkaline electrolyzers. The company is bringing one of the core productio...
Bermuda >>  1/13/2022 - Teekay LNG Partners L.P. (the Partnership) (TGP) announced that it completed the previously announced acquisition of the Partnership by investment veh...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.