Svitzer acquires controlling stake in Buksér og Berging 

Svitzer has acquired a 66.6% stake in Norwegian towage and marine service company Buksér og Berging to gain a strong market position in Norway.

The Copenhagen, Denmark-headquartered owner, with around 450 tugs and workboats, will partner with the Oslo-based company and share experiences from the towage, maritime services and offshore markets.

Svitzer does not plan to integrate the activities of either company under this transaction, and Buksér og Berging will continue operating as a standalone company under its own brand, management, values and strategy.

Buksér og Berging chief executive Vetle Sverdrup will continue in his role and maintain a 33.4% shareholding position and active ownership of the business after the transaction, which is subject to final regulatory approvals.

The Norwegian company, which was established in 1913, owns about 35 tugs, 25 pilot boats, three ambulance vessels and a service vessel for salmon farming with offices in Oslo, Stavanger and Fedje, near Bergen.

“Our investment is an exciting opportunity for us to join forces and share our respective expertise and leadership positions in the towage and maritime infrastructure markets,” said Svitzer chief executive Kasper Nilaus.

“We will drive innovation and growth for both companies, further cement our decarbonisation credentials, and above all strengthen the value, safety and service offered to customers and their supply chains.”