Trident Maritime to acquire Callenburg Technology

AUGUST 11, 2016 — Cozet, VA, headquartered Trident Maritime Systems, a J. F. Lehman & Company portfolio company, is to acquire Gothenburg, Sweden, headquartered Callenburg Technology Group from Wilhelmsen Maritime Services AS (WMS), a wholly owned subsidiary of Wilh. Wilhelmsen Holding ASA.

WMS will receive a net sale price of approximately $64 million, of which $41 million will be in cash at closing, and a seller-financing package of $23 million.

It says "the net profit effect is a loss of $12 million.

"Callenburg specializes in marine insulation, HVAC and electrical energy management.

"We have in Trident and their principal, J. F. 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," says Dag Schjerven, president and CEO of WMS.

"Through this natural combination, we will significantly expand our technical capabilities and geographic reach," says Tom Eccles, CEO of Trident. "Combining the rich history and strong reputation of Callenberg and Trident, will create a market leader in the provision of marine systems to the global market."

The transaction is expected to be finalized in third quarter 2016.

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