Financial details of the transaction remain undisclosed, although the acquisition is priced at approximately the same EV/EBITDA level as the current pricing of Kongsberg Maritime ASA. The transaction is subject to certain conditions, including customary regulatory approvals.

"This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments," says Lisa Edvardsen Haugan, CEO of Kongsberg Maritime.

The two businesses are described as complementary: Kongsberg Maritime holds a strong position in high-value, performance-driven segments, while Berg Propulsion has built a leading presence in volume segments such as general cargo and product tankers. Berg is also active in the Ferry and RoRo segment.

Philip Chaabane, CEO of Berg Propulsion, says joining forces with Kongsberg Maritime is an exciting opportunity, adding that the company looks forward to contributing its strengths while benefiting from the buyer's global scale and aftermarket capabilities.

Following completion, Berg Propulsion will operate as a separate brand and standalone business unit within Kongsberg Maritime's Propulsion & Handling division, an approach intended to preserve Berg's culture, agility and customer focus. Per Håvard Siljan Hjukse, EVP Propulsion & Handling at Kongsberg Maritime, points to significant potential in the aftermarket, where Berg's large installed base and future deliveries can be supported through KM's global service network, as well as cross-selling opportunities in both directions.

The combined propulsion portfolio will span controllable pitch propellers and thrusters, hybrid and electrical propulsion systems, and integrated vessel control solutions, covering vessel sizes from standard tonnage to advanced applications.

In 2025, Berg Propulsion generated revenues of approximately EUR 160 million, while Kongsberg Maritime, as part of the Kongsberg Group, reported revenues of NOK 27,123 million, up ten per cent on 2024. Berg Propulsion is headquartered in Gothenburg, employs around 400 people and has an installed base of approximately 4,000 vessels. Kongsberg Maritime has more than 8,300 employees in 35 countries, with systems aboard over 30,000 vessels.

© Shippax