WTS Acquires Novenco Fire Fighting A/S
Wilhelmsen Technical Solutions acquires speialist in water-mist technology, Novenco Fire Fighting A/S.
“The acquisition of this niche player in water mist technology further strengthens our safety portfolio, taking us an important step closer to becoming the world’s leading fire fighting provider in the maritime and offshore industries” says Petter Traaholt, President Wilhelmsen Technical Solutions (WTS).
NFF is purchased from a private equity fund managed by Dania Capital. NFF exports over 90% of its products to customers in more than 26 countries; its main markets are Asia, followed by Europe and the US. This customer portfolio will expand WTS’ customer base for safety applications in cruise and yacht particularly. With employees based in Denmark, Italy, China and Korea, NFF’s international sales and distribution network will complement WTS’ global reach.
“This small bolt-on acquisition is a perfect fit for us. We anticipate many beneficial opportunities with this acquisition and also expect to further interest offshore customers with our extended fire safety capabilities” says Traaholt.
Water mist is an extremely effective fire fighting media and consequently it is becoming a preferred solution for many applications in the Maritime market. In the marine and offshore segments water mist systems are chosen for their great flexibility in enclosed spaces as well as their limited impact on the structure and components. The system is non-hazardous to personnel, environmentally friendly and has a short deployment lead time.