Shipmanagement company Wilhelmsen has acquired tank and cargo hold cleaning specialist Navadan
According to statements from both companies, completion of the acquisition is expected to be finalised Q1 2023.
Wilhelmsen said, "Navadan will retain its brand and operate as a fully owned subsidiary of Wilhelmsen Ships Service for the first period after the completion of the agreement".
Wilhelmsen Ships Service said it will continue to invest and build on both its current and existing companies and services.
“Navadan has built a strong position as experts within its field. In addition, we like its way of operating with short lead times and quick deliveries supported by a network of toll blenders. This is a highly complementary match for us, and I look forward to completing this transaction to keep growing both companies together”, said Wilhelmsen Ships Service president Kjell André Engen.
“It has been a tremendous journey for the last 25 years, building Navadan into a strong supporting player for the commercial shipping industry together with all our colleagues. We have good reason to be proud of what we have achieved, and the company is in better shape than ever," said Navadan owner and chief executive Peter Krogh, who acquired ownership of the company in 2011.
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