Posted on October 9, 2026
HD Hyundai Marine Solution (443060.KS) will spend about 331.5 billion won to acquire Goltens, a U.S. company specializing in the maintenance of marine and land-based power generation engines. The company plans to use Goltens’ global repair network and skilled workforce to expand its aftermarket business, including maintenance, repair and overhaul (MRO) services for ships, and to accelerate its global land-based power generation business using HiMSEN, an engine developed in-house by HD Hyundai (267250.KS).
HD Hyundai Marine Solution said in a regulatory filing on the 8th that it had signed a share purchase agreement to buy a 100% stake in Goltens for about $247 million, or 331.5 billion won.
Founded in New York in 1940, Goltens provides MRO services for two-stroke and four-stroke engines installed on ships and at land-based power plants. Including its New Jersey headquarters, the company operates 28 repair bases, 19 service workshops and 31 corporate entities across the Americas, Europe and Asia. With about 1,300 skilled workers, it serves more than 2,300 customers and 5,500 vessels. Goltens is not tied to any single manufacturer and can service engines from a range of brands, with the field capability to deploy technical staff worldwide.
HD Hyundai Marine Solution plans to apply Goltens’ customer service structure and accumulated expertise across the group to strengthen competitiveness throughout its aftermarket business. Goltens will continue to operate independently under its current chief executive to preserve continuity in technology and field expertise, while group-level technical exchanges will offer development opportunities to Goltens employees.
The company said Goltens would also benefit from the deal, gaining access to HD Hyundai’s global engine portfolio and the ability to expand into areas such as engine maintenance.
Synergies are also expected in the group’s land-based power generation business. HD Hyundai plans to use Goltens’ global service network and engine maintenance capabilities to expand its power generation equipment business built around HiMSEN engines. HD Hyundai Heavy Industries (329180.KS) signed a 627.1 billion won power equipment supply contract with Aperion Energy Group in April and a 956 billion won contract with Koban Energy Group in August. The acquisition is intended to strengthen not only equipment supply but also local maintenance and repair services.
“This acquisition is a strategic choice to maximize mutual synergy so that both companies can grow together,” an official at HD Hyundai Marine Solution said. “We will respect Goltens’ existing operating philosophy while expanding our business areas and continuing to find new opportunities in the global market.”
