Wilhelmsen sells Callenberg Technology

Wilhelmsen sells Callenberg Technology

Wilhelmsen Maritime Services (WMS) has agreed to sell its subsidiary Callenberg Technology to Trident Maritime Systems for a net price of around $64m.

The sale will be financed with $41m in cash and a seller-financing package of $23m, which will incur a $12m loss on WMS’s net profit.

“We have in Trident and their principal, JF Lehman & Company, found a strong new owner of Callenberg. Having a new owner that operates within the same technology areas creates a perfect environment for employees, customers and future growth of Callenberg with Trident,” Dag Schjerven, president and CEO of WMS, said in a release.

Trident’s CEO, Tom Eccles, said the “natural” combination would expand his company’s technical capabilities and geographic reach.

“Combining the rich history and strong reputation of Callenberg and Trident, will create a market leader in the provision of marine systems to the global market,” he added.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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