Rolls-Royce in £43m acquisition
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Rolls-Royce is continuing its growth strategy in the marine market by acquiring Scandinavian Electric Holding, a supplier of system packages for hybrid and diesel-electric marine propulsion systems, for £43 million in cash.
The acquisition is expected to increase the sales of Rolls-Royce ship design and equipment packages, especially in the offshore sector, by adding new electrical, automation and control capabilities. This will boost the company’s existing ship systems capabilities as the market moves towards greater use of diesel-electric propulsion.
SEH currently employs 150 people, in Bergen, Norway, and Gdansk, Poland. It recorded sales of £40 million in 2007 and has a current order book of £100 million.
John Paterson, Rolls-Royce President - Marine, said: "This acquisition is an important element of our strategy for growth in the marine sector. The purchase of Scandinavian Electric Holding demonstrates our long-term strategy of adding new capabilities and expanding into integrated power and propulsion systems."
SEH undertakes system design and engineering, testing and commissioning and provides through life support. The company also manufactures some of the switchboards, instrumentation and power management system elements for the systems it sells. SEH also sells stand alone products direct to customers.
