MJP Waterjets Acquires Ultra Dynamics

Press Release
Tuesday, October 23, 2012
Impeller

MJP Waterjets AB (“MJP Waterjets”) based in Österbybruk, Sweden has acquired Ultra Dynamics Ltd and Ultra Dynamics Inc (jointly referred to as “Ultra Dynamics”) based in Cheltenham, England and Columbus, Ohio, USA, with the waterjet brand UltraJet. The merger between MJP Waterjets and Ultra Dynamics creates one of the leading providers of waterjets in the world comprising a complete and complementary product range.  



Customers will now benefit from the two companies’ very strong market positions in their corresponding product segments: MJP Waterjets is known as the number one supplier of stainless steel mixed flow waterjets and Ultra Dynamics is undisputedly one of the most respected suppliers of aluminum axial flow waterjets.



MJP Waterjets and Ultra Dynamics will become even more present in the marine market and will be able to offer new exciting projects in the very near future. The group will jointly work on research and development in order to further strengthen both product lines and enhance the combined company’s leading position.



Anders Björe, CEO MJP Waterjets Holding: “I'm pleased and excited to join this new company, a union of two highly renowned waterjet suppliers. By building on both companies’ strengths, together with the perfect product match, I'm convinced the combination of MJP Waterjets and Ultra Dynamics will deliver enhanced value to our existing and new customers.”



Hans Andersson, Executive Vice President Global Sales and Marketing: “When talking synergies, this merger is exemplary with two product ranges complementing each other to a degree which has seldom been witnessed in the marine market.”



Derek Burton, Chairman of Ultra Dynamics: "When you have been involved in the building of a successful business it is always difficult to let go. However, I am confident that the combination of the MJP and the UltraJet brands are a good marriage for both businesses and that together they will become an ever more powerful force in the waterjet market. It is a perfect partnership and I wish them well."



Redeye and KPMG acted as financial advisors and Andulf Advokat and McGuireWoods as legal advisors to MJP Waterjets and Verdane Capital in this transaction.

 

  • MJP Waterworld

    MJP Waterworld

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Palfinger Chooses NAMJet Waterjets

Netherlands-based Palfinger Boats has launched the first of two Damen-designed FRSQ 1200 fast-rescue/oil response vessels.   Built in Harderwijk, Netherlands,

ABG Ties Up with GTT for LNG Technology

ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint.

Methanol Powered Ferry Launched in Baltic Sea

Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first.   The company spent $24 million on converting the ship to methanol.

Finance

Hermes Unit, Canadian Fund to Buy $2.4B Stake in UK Ports Group

The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure are prepared to buy a 30 percent stake in Associated British Ports for about 1.6 billion pounds ($2.

Baltic Sea Freight Index Up on Higher Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday, mostly on higher capesize rates.   The index,

Direct Le Havre to Charleston LCL Import Service

CaroTrans has announced the addition of an expedited Le Havre, France to Charleston LCL import service.    This is the only direct, weekly Le Havre to Charleston LCL service available in the market.

News

U.S. DoI Upholds 2008 Shell Arctic Lease

The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas

All American Marine Delivers Ferry to Seattle

All American Marine, Inc. (AAM) today announced the delivery of a new passenger ferry that will serve the city of Seattle.    The vessel, MV Sally Fox, was dedicated

HEADHUNTER Marine Sewage Treatment Systems

Headhunter’s team of engineers, fabricators, and wastewater specialists work together to provide innovative and efficient sewage treatment solutions.   Offering systems in three categories; STP,

Mergers & Acquisitions

Hermes Unit, Canadian Fund to Buy $2.4B Stake in UK Ports Group

The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure are prepared to buy a 30 percent stake in Associated British Ports for about 1.6 billion pounds ($2.

DryShips to Sell its Suezmax Tanker Fleet

DryShips Inc. (NASDAQ: DRYS), has announced  that it has entered into firm sales agreements with entities controlled by the Company's Chairman and Chief Executive Officer,

Cargotec Solely owns China Crane

Cargotec and CAG Marine Holding Limited, which is in turn wholly owned by Carlyle Asia Growth Partners IV, L.P. and CAGP IV Coinvestment, L.P., now jointly own

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar 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: 0.2314 sec (4 req/sec)