Danish maritime safety equipment company VIKING Life-Saving Equipment announced today it has acquired Norwegian lifeboat-builder Norsafe.
Established in 1903, Norsafe produces a full range of free-fall lifeboats and fast rescue boats with davits and have supplied over 28,000 lifeboats to the global ship market over the years. Its advanced lifeboat products are manufactured in accordance with the latest SOLAS requirements and approved by national and certifying authorities for both ships and offshore use.
In 2014, the Norsafe set a world record for the tallest free fall lifeboat drop from a staggering 40 meters – with 10 people on board.
The cost of the acquisition has not been disclosed, and Viking said closing is expected October 1, 2018.
“This is a very close operational and cultural fit,” commented VIKING CEO Henrik Uhd Christensen. “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.”
With Norsafe’s 24/7 service network providing lifeboat maintenance from over 300 ports worldwide, Viking says the acquisition will help it respond to new demands for full-scope safety solutions, encompassing everything from products and services – including long term Shipowner Agreements – to design, installation and training.
VIKING says it expects new efficiencies not just from integrating the two companies’ product lines and widening customer choice, but also from leveraging complementary supply chain and production capabilities.
“Adding Norsafe’s current network to VIKING’s extends our already impressive global reach,” says Henrik Uhd Christensen. “And on the training side, with Norsafe’s specialized 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.”
Norsafe’s CEO, Dag Songedal, is looking forward to becoming part of the VIKING group. “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. The safety equipment industry is consolidating to offer shipowners and offshore asset owners greater economies and efficiencies of scale.”