By
Rebecca Gibson |
Maritime safety equipment manufacturer and global service provider Viking Life-Saving Equipment has acquired Norwegian lifeboat solution provider Norsafe to extend its global reach.
Norsafe has supplied more than 28,000 free-fall lifeboats and fast rescue boats with davits across the world since it was established in 1903. All its products are manufactured in accordance with the International Maritime Organization’s Safety of Life at Sea requirements and approved by national and certifying authorities for use on ships.
By integrating its portfolio with Norsafe’s, Viking will be able to provide an expanded range of lifeboat, hook and davit products to thousands of customers worldwide. It will also be able to leverage complementary supply chain and production capabilities.
In addition, Norsafe has a 24/7 service network that provides lifeboat maintenance from more than 300 ports worldwide, as well as specialised training centres in Norway and Greece. This will enable Viking to meet demand for full-scope safety solutions that encompass everything from products and services – including long-term shipowner agreements – to design, installation and training.
“Like Viking, Norsafe has been family-owned for generations, which creates strong and lasting relationships with customers – and it places the same emphasis on quality, on the use of advanced materials and on technological innovation as we do,” said Henrik Uhd Christensen, Viking CEO. “Adding Norsafe’s current network to Viking’s extends our already impressive global reach. And on the training side, with Norsafe’s specialised centres in Norway and Greece offering product and STCW courses, Viking’s training arm will also receive a boost to its ability to help vessel and offshore asset owners manage crew competencies.”
The financial transaction for the acquisition is expected to close on 1 October 2018.
“Under the Viking umbrella, we are creating a more robust and more capable business model that will ensure we can continue to advance our ability to protect people at sea with compelling lifeboat solutions,” said Dag Songedal, Norsafe CEO. “The safety equipment industry is consolidating to offer shipowners and offshore asset owners greater economies and efficiencies of scale.”