Schottel to acquire elkon

The take-over will mean that energy-efficient propulsion systems, hybridisation and electrification will be offered in a complementary way to customers in both the new build and retrofit businesses.

Customers will benefit from an expansion of both companies’ portfolios plus a possible commissioning of turnkey solutions for propulsion systems and system integration. elkon customers, typically centred in Europe, North America, the Middle East and around the Caspian Sea, will now also benefit from Schottel’s global reach.

“With elkon as a renowned and very successful supplier of electrical power system engineering, design and integration for vessels, we will be able to achieve this,” explained Stefan Kaul, chief executive of Schottel.

“We will expand our portfolio to include everything regarding generation, distribution, storage and management of electrical energy on board of vessels. Schottel becomes a complete system supplier for electrical and green propulsion.”

Schottel will take over the majority stake in elkon from the family investment house Vera Capital whilst the minority stake will remain with elkon’s senior engineers and management. elkon will become a legally independent subsidiary of holding company, Schottel Industries. The takeover is expected to take effect this spring, following a review by the antitrust authorities.