With its third firm acquisition in simply over two years, marine pump specialist, Svanehøj, continues to broaden its service answer enterprise, this time by taking on California-based Full Cryogenic Providers (CCS), a specialist in service and overhaul of submerged pumps on LNG tankers.
The variety of LNG tankers globally has grown by round 40% within the final 5 years, and 2022 was a file yr with greater than 200 new contracts signed. With this, a beautiful service and aftersales market emerges, through which Svanehøj is decided to realize market share.
Due to this fact, the Danish marine pump and fuel tank tools specialist has acquired CCS in Tustin, California, with greater than 30 years of expertise within the service and overhaul of submerged cargo, spray, and high-pressure pumps for cargo containment programs on LNG tankers.
“CCS is a well known and recognised firm that may strengthen our efforts to turn into the main service supplier of inspections, service, and calibration of cargo tools within the LNG section. On the identical time, the acquisition is an funding in information and know-how that may assist us develop new services for the power transition of transport,” stated Søren Kringelholt Nielsen, CEO of Svanehøj.
In recent times, Svanehøj has invested considerably in its service answer enterprise by way of acquisitions of FORCE Expertise Marine Tools Service (2020) and Wärtsilä Tank Management Techniques (2022), in addition to the institution of a 1600 m2 service and restore store in Singapore (2021). With the acquisition of CCS, Svanehøj Service Options is now positioned on three continents with slightly below 100 staff, virtually a tenfold enhance in 4 years.
“We’ve invested considerably in our service enterprise to be near clients with native service engineers worldwide. As we speak, Svanehøj can provide built-in options with service on security valves, gauging and instrumentation programs, and submersible cargo, spray, and high-pressure pumps – all carried out by one service supplier to make the whole service scope simpler and extra financially viable,” added Director of Service and Aftersales at Svanehøj, Morten Christian Larsen.
With the acquisition of CCS, Svanehøj may also be capable to re-engineer essential spare elements for all pump varieties. Larsen factors out that it’s important to Svanehøj’s technique of supplying high-quality spare elements for different manufacturers’ tools.
CCS turns into an unbiased a part of Svanehøj Service Options and shall be named ‘Svanehøj CCS – Full Cryogenic Providers’. The corporate’s 9 staff will proceed to work of their present roles with Henry Smith IV as director. He sees apparent synergies in bringing a long time of expertise with submerged LNG pumps into Svanehøj’s rising service enterprise.
“For us, the change of possession is a chance to make sure a future succession and scale our enterprise globally. We’ve come to know Svanehøj as an organization with strong values and a transparent imaginative and prescient to assist overcome the obstacles within the power transition of transport. We stay up for being part of that,” concluded Smith.
Following the acquisition of CCS, Svanehøj employs 320 individuals and has actions in Denmark, the UK, France, Singapore, China, Japan, and the US.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/18042023/svanehj-acquires-complete-cryogenic-services/