Svitzer takes 66.6% stake in Norway’s Buksér og Berging

Photo: Buksér og Berging

Copenhagen-headquartered Svitzer Group A/S has acquired a 66.6% stake in leading Norwegian towage and marine service company Buksér og Berging AS, subject to final regulatory approvals.

Svitzer says that there are no integration activities related to the transaction for either company and Buksér og Berging will continue to operate as a standalone company under its own brand, management, values and strategy. Svitzer says its investment represents a partnership opportunity for both companies, with a view to leveraging their extensive shared knowledge and experience of the global towage, offshore, adjacent maritime services and marine solution markets.

Established in 1913, Buksér og Berging AS is a leading supplier of marine services within port and terminals, towage, offshore work and complex marine operations in Norway. Headquartered in Oslo, with branch offices in Stavanger and Fedje, outside Bergen, it has an advanced fleet of about 35 tugs, 25 pilot boats, three ambulance vessels and one service vessel for salmon farming (delousing vessel).

Svitzer operates more than 450 vessels globally.

There are no integration activities related to the transaction for either company and Buksér og Berging will continue to operate as a standalone company under its own brand, management, values and strategy.

Buksér og Berging CEO Vetle J. Sverdrup, will continue in that role and maintain a 33.4% shareholding position and active ownership of the business.

“Our leadership in the Norwegian towage and marine contracting markets is built on our values, tradition and the extensive operational and technical knowledge of our capable teams and their drive to solve challenges for customers,” he says. “The investment by Svitzer presents an opportunity to continue our legacy and deepen our capabilities with a strategic partner that is a highly regarded, global company with long-term ambitions for Buksér og Berging’s success.”

“Buksér og Berging, like Svitzer, has a proud heritage, and our investment is an exciting opportunity for us to join forces and share our respective expertise and leadership positions in the towage and maritime infrastructure markets,” said Svitzer CEO Kasper Nilaus. “I am confident together we will drive innovation and growth for both companies, further cement our decarbonization credentials, and above all strengthen the value, safety and service offered to customers and their supply chains.”