Posted on January 23, 2023
Norwegian shipping and investment group Eitzen is taking over compatriot Høglund Marine Solutions, a provider of sustainable automation services and LNG fuel gas systems.
The Oslo-based family-owned firm led by Axel C. Eitzen, which among other things owns the Copenhagen-based chemical tanker player Christiania Shipping, has become a majority shareholder in Høglund through a share issue.
The move is said to reinforce Eitzen Group’s “long-term commitment to sustainable shipping and focus on future-oriented ship technology.” Høglund Marine Solutions’ systems have been installed on more than 600 ships worldwide.
“Høglund is a strong brand, and as a supplier of quality automation and energy systems we consider them to be in pole-position for being a differentiator in shaping the future of shipping. We are very excited to become part of a strong team and humbled by the opportunity to play an active role in the board of directors going forward,” said Fridtjof C. Eitzen, currently CEO of Christiania Shipping.
Høglund Marine Solutions was in takeover talks with Norwegian maritime and marine technology provider Hav Group but the deal fell through in October last year after the two companies had not been able to reach the necessary agreement on final terms.