Herkules-backed Seagull Maritime buys Tero Marine

Seagull CEO Roger Ringstad said in a statement that there would be no organisational changes and the companies will continue to operate as separate businesses.

Herkules bought Seagull for around €100m in 2015 through Herkules IV, a NOK 2.5bn buyout fund that closed in 2014, short of its NOK 4bn target. It acquired the firm from GMT Communications Partners, which acquired the business from its management team in 2012.

Company
Tero Marine was founded in 1975 and is headquartered in Bergen. It develops TM Master, a fleet management tool for the shipping industry that helps plan maintenance and asset management. The company employs 55 people at offices in Norway, the UK, Singapore, the US, Brazil, Japan and Russia.

People
Seagull Maritime – Roger Ringstad (CEO).
Tero Marine – Jarle Holmelid (CEO).

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