Denmark’s Svanehoj continues to expand its service solution business and has purchased California-based Complete Cryogenic Services, a specialist in service and overhaul of submerged pumps on LNG tankers.
The marine pump and gas tank equipment specialist announced this move in a statement on Monday, but it did not provide the price tag of the deal.
This is Svanehoj’s third acquisition in just over two years, including the Wartsila deal.
Svanehoj says this new deal will help the firm to gain market share in the LNG carrier service and aftersales market, following record orders for LNG carriers last year.
US-based Complete Cryogenic Services (CCS) has more than 30 years of experience in the service and overhaul of submerged cargo, spray, and high-pressure pumps for cargo containment systems on LNG tankers, according to Svanehoj.
Following the acquisition, CCS becomes an independent part of Svanehoj Service Solutions and will be named Svanehoj CCS – Complete Cryogenic Services.
Also, the company’s nine employees will continue to work in their current roles with Henry Smith IV as director.
Svanehoj now employs 320 people and has activities in Denmark, the UK, France, Singapore, China, Japan, and the US.