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

Marine Propulsion

ABB's 25th Year in Dubai

ABB Turbocharging is celebrating its 25th anniversary in UAE. Established in 1989 in Dubai, ABB has grown to become a fully-fledged service station capable

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

Wärtsilä Steerable Thruster Gets Class Approval

DNV-GL approved the design of the Wärtsilä WST-14 thruster, significant as approval was granted based on a thruster design that has yet to be introduced into full series production.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators 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: 0.1002 sec (10 req/sec)