Finnish technology group Wärtsilä has divested its pumps business to Solix Group, a Scandinavian investment company with offices in Copenhagen, Denmark and Malmö, Sweden.
Wärtsilä Pumps has belonged to the Wärtsilä Marine Solutions organization and became part of the company along with the acquisition of Hamworthy in 2012, with the unit’s sales reaching approximately €50 million ($56.7 million) in 2017.
The divestment will enable Wärtsilä to devote greater focus to its Smart Marine vision, the company said in a statement on Wednesday.
Headquartered in Aalborg, Denmark, Wärtsilä Pumps designs, manufactures, and markets niche pumps, primarily deepwell and in-line pumps, to the marine and oil & gas industries.
The company’s brands include Svanehøj, Hamworthy Pumps, Eureka and Dolphin, with its products used in applications, such as cargo offloading, fuel gas handling, ballasting, engine cooling, fire protection and exhaust gas cleaning.
Speaking of the divestment, Timo Koponen, vice president, processing solutions at Wärtsilä, said, “Pumps will continue to be an integral part of Wärtsilä’s various gas and fuel gas system solutions.”
He added the company foresees a strong future for the business with the new owner becoming a supplier to Wärtsilä.