Moen Marin acquires PMH Norway.
Norwegian workboat builder Moen Marin has announced the acquisition of Trøndelag-based PMH Norway, a supplier of maritime solutions with a reported turnover of NOK 60 million ($5.2 million) in 2023. The transaction, finalized on January 7, aligns with Moen Marin’s strategy to enhance its portfolio of sustainable and high-tech maritime solutions.
“This acquisition supports our vision to strengthen and promote sustainable, cost-effective maritime solutions. PMH’s products are well-known to us as reliable and well-suited to our market,” said Bernt Lillestråle, CEO of Moen Marin, in a press release.
PMH Norway, which has supplied maritime control systems and other vessel solutions for more than 50 years, will become a subsidiary of Moen Marin. However, it will continue to operate under its existing brand name.
“We are excited to have Moen Marin as our owners. With their backing, we can develop our products further and expand into new and existing markets,” said Kåre Vevik, CEO of PMH Norway.
Moen Marin is part of ScaleAQ, a provider of aquaculture and maritime solutions. ScaleAQ’s CEO, Audun Fjeldvær, welcomed the acquisition, emphasizing its strategic fit.
“PMH Norway brings strong products and expertise to our portfolio. This acquisition further strengthens our ability to deliver quality solutions tailored to customer needs,” Fjeldvær said.
The financial details of the transaction were not disclosed.
