Wärtsilä has divested 100% of the shares in Wärtsilä Valves Ltd to an affiliate of New York City based Evergreen Capital L.P.
Located in Brough, U.K., Wärtsilä Valves Ltd. supplies the entire range of three long-established brands: Shipham, John Mills and Robert Cort.
Tamara de Gruyter, President, Wärtsilä Marine Systems and Head of Portfolio business said: “Wärtsilä is focusing on creating a stronger and simpler core whilst making sure the non-core businesses get an opportunity under a new ownership to be able to drive their business success and better serve their customers. Valves largely serves different markets than Wärtsilä and as such we are sure that as an independent set-up, Valves will find a good home with Evergreen Capital”.
“We are pleased to add Wärtsilä Valves and its staff to the Evergreen family of businessesLee Amram, Partner, Evergreen Capital, L.P. said. “Upon closing, we renamed the business Shipham Valves Ltd. We are excited to provide the resources and support to strengthen Shipham Valves’ capabilities to better serve its existing and prospective customers and global markets.”
Rob Moulds, General Manager, Wärtsilä Valves Ltd. said: “Shipham is one of the longest established and most highly respected valve manufacturers in the world, we look forward to being an independent company and working with Evergreen to further strengthen the Shipham brand.”
Shipham’s activities include engineering, assembly, testing, sales and delivery of nickel aluminum bronze (NAB) and duplex valves for marine, oil & gas and energy markets.