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Saab offloads maritime traffic management business for $42m

Sweden’s Saab has sold its Maritime Traffic Management (MTM) operation to funds advised by pan-European mid-market private equity firm Agilitas for an enterprise value of around €40m ($42m).

Headquartered in Apeldoorn, the Netherlands, MTM is a provider of software solutions for vessel traffic, ports and terminals used by port authorities or coast guards to monitor vessels as well as to support the navigation in and around ports, coastal lines, and inland waterways. The business employs approximately 170 staff across its offices in the Netherlands, Belgium, Canada and Hong Kong.

Saab said the divestment was in line with its strategy to focus on its core areas of aeronautics, sensors, command & control, advanced weapon systems and underwater systems. The sale is subject to certain conditions that need to be fulfilled before closing, expected to take place no later than March 2023. Upon closing Saab will remain a minority shareholder, holding between 21 and 28% of preference shares.

“MTM is a stable and resilient business, however no longer part of Saab’s core. As we continue to focus our growth within our core areas, we believe the MTM operations will benefit from being part of a new ownership for continued growth with Agilitas,” said Micael Johansson, Saab’s president and CEO.

Kevin Iermiin, the partner of Agilitas who will be joining the board of MTM following the closing of the transaction, commented: “MTM is a great example of the type of investment we seek at Agilitas. The business benefits from a high degree of defensibility and offers significant transformation potential. Following the carve-out from Saab AB, the business will benefit from being a stand-alone company with a strengthened management team and regained focus on maritime software.”

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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