Solix buys Wärtsilä

The carved-out division generated sales of €50m in 2017 and employs 230 people.

Wärtsilä made the divestment so it could devote greater focus to its Smart Marine vision, according to a statement.

Solix raised a €270m buyout fund in 2014, but also makes investments from its balance sheet.

Wärtsilä generated adjusted EBITDA of €612m from sales of €4.9bn in 2017 and has a market cap of €8.9bn.

Company
Headquartered in Aalborg, Denmark, Wärtsilä Pumps designs, manufactures and markets niche pumps, primarily deepwell and in-line pumps, to the marine and oil & gas industries. It has operations in Denmark, Singapore and China.

People
Wärtsilä – Timo Koponen (vice-president processing solutions).

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• Topics
• Buyouts
• Nordics
• Industrials
• Solix
• Denmark