Wärtsilä Boosts Service with Gerhardt Acquisition

Wednesday, November 16, 2005
Wärtsilä signed an agreement to acquire the assets of Gerhardt Holding Co., Inc. The company specializes in the servicing of control and automation equipment for gas and diesel engines and steam turbines. The operations to be acquired have annual net sales totaling approximately $28.6 million and 128 employees. The purchase price is $10 million. Acquisition is part of Wärtsilä's growth strategy in Service.

The family-owned company is headquartered in New Orleans, Louisiana, USA. Gerhardt Holding Co. Inc. offers control and automation equipment service for both marine and land-based installations. The company is strongly positioned regionally in the Gulf of Mexico and on the east and west coasts of the U.S.

According to Tage Blomberg, Group Vice President, Service: "The acquired business will add automation and control products and expertise as well as gas engine service expertise to our service offering, which we can provide on a wide scale to our customers through Wärtsilä and Wärtsilä-owned Ciserv networks. Gerhardt is well established in the Gulf of Mexico region. We will get new markets in the marine sector, especially in the gas engine solutions and growing LNG markets and additionally also in the on-shore petrochemical and oil refinery industries."

Commenting on the pending transaction, Mr Bruce Gerhardt, President of Gerhardt Holding Co Inc., stated: "We think our customers will benefit markedly from the broader offering and resources the Wärtsilä and Ciserv networks bring . For Gerhardt's automation and control service business and our employees, this acquisition will afford enhanced opportunities as part of Wärtsilä's total service offering and global network."

The deal is expected to close in early December 2005.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Dann Marine Repowers With Cummins Tier 3 Engines

Dann Marine Towing, LC., is a fifth generation family owned and operated tugboat company based in Chesapeake City, MD. The model-bow twin-screw tug Sea Coast was

MAN-Powered Cargo Vessel Meets Tier III

Classification society awards SCR system emissions certificate. MAN Diesel & Turbo has been awarded a Tier III - compatibility certificate by the DNV- GL classification

Vroon’s VOS Famous Launched

Vroon’s newbuilding ERRV, VOS Famous, was launched in China yesterday. This 50-m ERRV (emergency response and rescue vessel) is under construction at Nanjing East Star Shipyard.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
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: 0.1438 sec (7 req/sec)