Callenberg Technology Group to be acquired by Trident Maritime Systems

Wilhelmsen Maritime Services AS (WMS), a wholly owned subsidiary of Wilh. Wilhelmsen Holding ASA, has signed an agreement whereby technology subsidiary Callenberg Technology Group (Callenberg) will be acquired by Trident Maritime Systems (Trident).
Press release, Published: (Wilh. Wilhelmsen Holding ASA)

"We have in Trident and their principal, J. F. Lehman & Company, found a strong new owner of Callenberg. Having a new owner that operates within the same technology areas creates a perfect environment for employees, customers and future growth of Callenberg with Trident," says Dag Schjerven, president and CEO of WMS.

"Through this natural combination, we will significantly expand our technical capabilities and geographic reach," says Tom Eccles, CEO of Trident. "Combining the rich history and strong reputation of Callenberg and Trident, will create a market leader in the provision of marine systems to the global market."

WMS will receive a net sale price of approximately USD 64 million, of which USD 41 million will be in cash at closing, and a seller-financing package of USD 23 million. The net profit effect is a loss of USD 12 million.

The transaction is expected to be finalised in the third quarter. SEB Corporate Finance acted as financial adviser in the transaction.

 

For further information:

Dag Schjerven, president and CEO of Wilhelmsen Maritime Services Phone: +47 908 37 955 / Email:Dag.Schjerven@wilhelmsen.com

Petter Traaholt, CEO of Callenberg Technology Group
Phone: +47 977 31 509 / Email:Petter.Traaholt@callenberg.com

Åge S Holm, head of investor relations at Wilhelmsen
Phone: +47 900 87 670 / Email:Aage.S.Holm@wilhelmsen.com

Benedicte Teigen Gude, group vice president corporate communications
Phone: + 47 959 07 951 / Email:Benedicte.Teigen.Gude@wilhelmsen.com

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