Evac to acquire leading marine and offshore equipment manufacturer Cathelco
Evac, the world’s leading provider of integrated waste, wastewater, and water management systems for the marine, offshore, and building industries, is to acquire Cathelco, a leading global manufacturer of equipment for ships and offshore installations. Cathelco customers include Evac’s current marine and offshore customer groups, including ship owners, shipyards, fleet managers, rig owners and operators, oil companies, navies, and designers.
The acquisition gives Evac the opportunity to further expand its cleantech solution portfolio to its customers with the addition of new systems, while also opening up new business opportunities in terms of ballast water treatment systems. It will extend Evac’s offering in three main areas: pipework anti-fouling systems, which prevent the build-up of bio-fouling in pipework and also suppress corrosion; hull corrosion protection systems, which prevent hull corrosion and therefore reduce vessel fuel consumption; and ballast water treatment systems, which remove organisms and pathogens from ballast water using UV and filtration technologies.
Cathelco’s sales turnover in the 2016/2017 financial year was 31 MEUR. This translates to a direct increase of about 30% in Evac Group’s turnover, from 105 MEUR to over 136 MEUR.
Evac Group CEO and President Tomi Gardemeister sees clear advantages in the acquisition. “An extended cleantech system offering, together with an enlarged sales and service network, will allow us to offer a more comprehensive range of solutions and services to our customers.”
Justin Salisbury, Group Managing Director of Cathelco Group, says: “Our already broad geographic footprint and expertise in cleantech systems will be augmented considerably by Evac’s broad portfolio, which will enable our customers to meet all their needs from a single reliable partner.”
“This acquisition provides a tremendous opportunity for Evac and Cathelco to work together to become a leader in the field of ballast water treatment systems,” adds Gardemeister. “Demand for these types of solutions is growing rapidly following the introduction of new IMO and US Coast Guard (USCG) regulations relating to ballast water treatment.”
Terms of the acquisition are not being disclosed.
For further information please contact:
CEO and President, Evac Group
Mobile +358 40 559 0746
Director, Marketing and Communications, Evac Group
Mobile +358 44 761 9559
Read the original press release here.