Wärtsilä Service Acquisition in the Closed
Wärtsilä and Gerhardt Holding Co., Inc. have closed the transaction transferring the service business of Gerhardt to Wärtsilä. The business focuses on servicing control and automation equipment for gas and diesel engines. The operations to be acquired have annual net sales totalling approximately EUR 24.5 million and 128 employees. The purchase price is EUR 8.6 million. The company is strongly positioned regionally in the Gulf of Mexico and on the east and west coasts of the USA.
Wärtsilä Boosts Service with Gerhardt Acquisition
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.
