Wärtsilä to divest its Valves business
The technology group Wärtsilä announces the divestment of 100% of the shares in Wärtsilä Valves Ltd to an affiliate of Evergreen Capital L.P., based in New York, US., the company said in its release.
Wärtsilä Valves Ltd. supplies the entire range of three long-established brands: Shipham, John Mills and Robert Cort. Its activities include engineering, assembly, testing, sales and delivery of nickel aluminium bronze (NAB) and duplex valves for marine, oil & gas and energy markets. Additionally, Wärtsilä Valves offers applications for Valves’ products, including e.g. FPSO, petrochemical facilities, power generation, LNG, naval marine, marine services, waste water treatment plants and pipelines. Wärtsilä Valves became part of the Wärtsilä group as a result of the Hamworthy acquisition in 2012.
The company is located in Brough, UK and currently has approximately 65 employees. The annual revenues were approximately EUR 15 million in 2019.
The transaction was closed on the 1st of October.
Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2019, Wärtsilä’s net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
