Kongsberg Maritime has announced an agreement to acquire Swedish company Berg Propulsion, a designer and manufacturer of integrated propulsion and electrical systems for the maritime market.
Financial details of the transaction have not been disclosed, but Kongsberg said the acquisition is priced at approximately the same EV/EBITDA level as its own current market pricing. The deal is subject to customary regulatory approvals.
Lisa Edvardsen Haugan, CEO of Kongsberg Maritime, said, “This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments. Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support and shared expertise.”
Kongsberg said the two companies are highly complementary: while it holds a strong position in high-value, performance-driven segments, Berg Propulsion has built a leading presence in volume segments such as general cargo and product tankers.
Philip Chaabane, CEO of Berg Propulsion, said, “Joining forces with Kongsberg Maritime is an exciting opportunity for Berg Propulsion. Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities.”
Following completion, Berg Propulsion will operate as a separate brand and standalone business unit within Kongsberg Maritime’s Propulsion & Handling division, a structure intended to preserve its culture and agility.
Per Håvard Siljan Hjukse, EVP of propulsion and handling at Kongsberg Maritime, said the deal would unlock potential in the aftermarket, with Berg’s installed base supported through Kongsberg’s global service network. He also pointed to cross-selling opportunities, such as Kongsberg’s energy and control products into Berg’s core segments, and Berg’s propeller systems into naval applications where Kongsberg already holds a strong position.
The combined portfolio will span controllable pitch propellers and thrusters, hybrid and electrical propulsion systems, and integrated vessel control solutions, with the companies saying together they will offer the most comprehensive commercial propeller range in the market.
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