Dutch OEM AEGIR-Marine completed the acquisition of Holland Propeller Services (HPS) on 11 June 2020
HPS owners John and Jacomien Schungel and AEGIR-Marine’s owner Ruud Muis signed the acquisition agreement.
Speaking about the agreement, John Schungel said “Of course we are extremely proud of the work we have put into building HPS over the last 20 years. However, the time was right for us to make this decision. All of us at HPS are looking forward to an exciting future with AEGIR-Marine.”
Both firms are independent suppliers of propulsion and stern seal system components. With the completion of this horizontal acquisition AEGIR-Marine said it is significantly extending its propulsion service and product range. AEGIR-Marine will offer customers a broader range of services and high quality products after adding the HPS portfolio.
Post-acquisition, John Schungel will join AEGIR-Marine as senior propulsion specialist and the rest of HPS’ personnel will be retained within AEGIR-Marine.
Mr Muis, said “We are pleased to welcome the HPS name and team to AEGIR-Marine. As fellow OEM independent specialists, their knowledge of products and service philosophy will be extremely complementary to our company. More importantly, our customers will have access to an increased propulsion portfolio.”
The company will also appoint a new managing director this month when Jaap de Lange takes over from outgoing managing director Peter Zoeteman on 15 June 2020.
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