LNG submerged pump specialist acquisition
The Danish marine pump and gas tank equipment specialist has acquired Complete Cryogenic Services (CCS) in Tustin, California, with more than 30 years of experience in the service and overhaul of submerged cargo, spray, and high-pressure pumps for cargo containment systems on LNG tankers. As a result, Svanehøj will also be able to re-engineer critical spare parts for all pump types. Morten Christian Larsen points out that it is essential to Svanehøj’s strategy of supplying high-quality spare parts for other brands’ equipment.
“CCS is a well-known and recognized company that will strengthen our efforts to become the leading service provider of inspections, service, and calibration of cargo equipment in the LNG segment. At the same time, the acquisition is an investment in knowledge and know-how that will help us develop new products and services for the energy transition of shipping, says Søren Kringelholt Nielsen, CEO of Svanehøj.
The acquisition is intended to position Svanehøj for the expanding LNG carrier service market. The fleet of LNG carriers has grown by around 40% over the last five years, and 2022 was a record year with more than 200 new contracts signed.
In recent years, Svanehøj has invested significantly in its service solution business through acquisitions of FORCE Technology Marine Equipment Service (2020) and Wärtsilä Tank Control Systems (2022), as well as the establishment of a 1,600 sqm service and repair shop in Singapore (2021). With the acquisition of CCS, Svanehøj Service Solutions is now located on three continents with just under 100 employees, almost a tenfold increase in four years.
