Drew Marine Acquires Chemring Marine

press release
Wednesday, June 06, 2012

Affiliates of Drew Marine (“Drew Marine”) have reached a definitive agreement with Chemring Group PLC (“Chemring”) to acquire Chemring’s maritime interests (“Chemring Marine” or the “Company”) for a cash consideration of £32 million, subject to standard closing adjustments.  Under Drew Marine’s ownership, the business will be named Drew Marine Signal and Safety (“DMSS”). 

 

Chemring Marine is the world’s leading supplier of marine distress signals including handflares, manoverboard buoys, line-throwers and other required rescue products under established brands including Pains Wessex, Comet, Aurora and Oroquieta.  The Company’s products are produced in Bremerhaven, Germany; Pamplona, Spain; and Lara, Australia.  The business will continue to be headquartered in Hampshire, UK.

 

Len Gelosa, President and CEO of Drew Marine, said: “The acquisition of Chemring Marine is a perfect fit with our strategy to provide essential products for safety, reliability and compliance to the global maritime industry.  Like Drew Marine, Chemring Marine is known for supplying the highest quality and best performing products to the markets that we serve.  The addition of these high quality brands is in keeping with Drew Marine’s philosophy of bringing the best of the market to our customers.  In addition, we add a new distribution model to Drew Marine’s capabilities, which should allow us to broaden our customer base and explore additional products suitable for the Company’s global distributor network.”

 

Completion of the transaction, which is conditional upon regulatory approvals, is expected by the end of July. Drew Marine is a provider of technical solutions and services to the marine industry specializing in Water Treatment, Fire, Safety & Rescue, Cleaning & Coatings, Fuel Management, Welding & Refrigeration and Sealing Products. Drew Marine was acquired by J.F. Lehman & Company in 2009.  J.F. Lehman & Company is a middle-market private equity firm focused on the defense, aerospace and maritime sectors.
 

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Mulls Senegal Free Zone

DP World  is looking to develop a free zone in Senegal, Chairman Sultan Ahmed bin Sulayem said on Wednesday. Sulayem was speaking at an African investment event in Dubai.

MOL Merges Group Companies; Upgrades Bridge Simulator

MOL adds DPS and enhances safe operation by integrating expertise through merger Mitsui O.S.K. Lines, Ltd. (MOL) announced the merger of MOL Marine Consulting, Ltd.

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

Contracts

Australia, US Order Anti-ship Missile Decoys

Design of the next generation of anti-ship missile decoys is set to commence following the signing of two contracts between the Australian Defense Force and BAE Systems Australia Pty Ltd.

General Dynamics Bags $ 50 mi Submarine Contracts

General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting

Skangass Builds LNG Terminal in Pori, Finland

With investment support from the Finnish Government of 185 million NOK Skangass has decided to build a new import terminal for LNG. The terminal will be completed in 2016.

Navigation

Almarin Buoys for GNL del Plata in Uruguay

Almarin has supplied fourteen buoys to OAS constructor for the maritime beaconing of the works of GNL del Plata project in Uruguay. Almarin Spanish AtoN supplier

IRPT, Community College MoA on Maritime Training

The Inland Rivers, Ports and Terminals (IRPT) Trade Association announced today that it has entered into a memorandum of understanding with Lewis & Clark Community

NAVTOR, AWT Pact Heralds in e-Nav Integration

E-navigation pioneer NAVTOR has signed an agreement with maritime weather routing specialist Applied Weather Technology (AWT) that will see the two companies integrating

Marine Equipment

MAN Propulsion Packages for New Trawler Series

Orders for five fresh-fish trawlers feature two different ship designs and MAN 6L27/38 engines and aft-ship equipment Icelandic owners, HB Grandi, Vinnslustodin hf.

General Dynamics Bags $ 50 mi Submarine Contracts

General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

Maritime Safety

MOL Merges Group Companies; Upgrades Bridge Simulator

MOL adds DPS and enhances safe operation by integrating expertise through merger Mitsui O.S.K. Lines, Ltd. (MOL) announced the merger of MOL Marine Consulting, Ltd.

General Dynamics Bags $ 50 mi Submarine Contracts

General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting

USCG Cutter Rush Returns

The crew of Coast Guard Cutter Rush returned to its homeport following a successful 72-day deployment in the Central and Western Pacific, Monday. Rush departed

Mergers & Acquisitions

MOL Merges Group Companies; Upgrades Bridge Simulator

MOL adds DPS and enhances safe operation by integrating expertise through merger Mitsui O.S.K. Lines, Ltd. (MOL) announced the merger of MOL Marine Consulting, Ltd.

'Flag Zannis' Delivered

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1921 sec (5 req/sec)