Wilhelmsen to Acquire Stromme
Wilhelmsen announced it has entered into an agreement with Seven Seas to acquire 100% of its shares in cargo hold cleaning subsidiary Stromme.
Wilhelmsen will acquire the company in Norway from parent Seven Seas including operations in Germany and Singapore, as Stromme will transfer all of its people, business and assets into Wilhelmsen Ships Service. Stromme will retain its brand and operate as a fully owned subsidiary of Ships Service.
Completion of the transaction is subject to predetermined conditions and is expected to happen in the third quarter of 2022.
Wilhelmsen said it will continue to invest and build on both it’s current and future cargo hold cleaning business, offering both existing and future customers even better solutions for their cargo holds.
“We want to strengthen and broaden our offering to customers, making Stromme a really good match within cargo hold cleaning, so we are really looking forward to completing this transaction,” said Kjell André Engen, president of Wilhelmsen Ships Service.
“At Seven Seas we decided to divest Stromme as it was not core business and we chose Wilhelmsen Ships Service as the best possible owner for the business to continue its positive path,” said Søren Nørgård, CEO and chairman of Seven Seas.
“Stromme has been focusing on cargo hold cleaning only, we have a good concept and have decided to stick to it. Coming from a small and agile organization, we have had the opportunity to take fast decisions and to rapidly change to key customers’ requirements and put focus where needed. It has resulted in steady and nice growth in revenue and results over the previous years. I see benefits of being a part of WSS with expertise, knowledge, and experience within our segment. The opportunity of utilizing the strengths of both organizations will benefit our customers and partners. We will continue to have a strong customer focus and high service level, it’s a people industry after all,” said Ane Fosseng, Stromme general manager.