Kongsberg Maritime has agreed to acquire Sweden’s Berg Propulsion in a strategic deal that will broaden its marine propulsion portfolio and strengthen its footprint in the commercial shipping sector. The acquisition adds an installed base of around 4,000 vessels while enhancing the company’s presence in the general cargo and product tanker markets, further reinforcing its position in the global maritime industry.
The acquisition combines Kongsberg Maritime’s expertise in high performance vessel segments with Berg Propulsion’s propulsion systems, hybrid solutions and electrical technologies. Financial terms were not disclosed, although Kongsberg Maritime said the transaction was priced at approximately the same EV/EBITDA multiple as its own current valuation.
The transaction brings together a broader range of propulsion technologies as fleets continue to invest in fuel efficient and lower emission operations. The combined portfolio will include controllable pitch propellers, thrusters, hybrid and electrical propulsion systems, together with integrated vessel control solutions.
“This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments. Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support, and shared expertise,” said Lisa Edvardsen Haugan, CEO of Kongsberg Maritime.
Berg Propulsion will continue to operate as a standalone business unit within Kongsberg Maritime’s Propulsion & Handling division, retaining its brand and operating model while gaining access to Kongsberg Maritime’s global service network.
“Joining forces with Kongsberg Maritime is an exciting opportunity for Berg Propulsion. Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities,” said Philip Chaabane, CEO of Berg Propulsion.
Kongsberg Maritime also expects the acquisition to strengthen its aftermarket business through Berg Propulsion’s installed fleet while opening opportunities to supply additional onboard systems across both customer bases.
“We look forward to benefit from Berg’s culture and speed, while leveraging our global capabilities to support their continued growth and execute on the synergies”, says Per Håvard Siljan Hjukse, EVP Propulsion &. Handling at Kongsberg Maritime.
“The transaction will unlock significant potential in the aftermarket. Berg Propulsion’s large installed base and future deliveries can be supported through KM’s extensive global service network. We also see cross selling opportunities, such as our Energy & Control products into Berg Propulsion’s core segments, and Berg’s propeller systems into naval where KM has strong positions”, he continues.
In 2025, Berg Propulsion generated revenue of about €160 million. Kongsberg Maritime reported revenue of NOK 27.1 billion, up 10 per cent from the previous year. The transaction remains subject to customary regulatory approvals.
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