M&A Deal Summary

Wärtsilä Acquires LOCK-N-STITCH

On February 2, 2018, Wärtsilä acquired marine company LOCK-N-STITCH

Acquisition Highlights
  • This is Wärtsilä’s 19th transaction in the Marine sector.
  • This is Wärtsilä’s 4th transaction in the United States.
  • This is Wärtsilä’s 1st transaction in California.

M&A Deal Summary
Date 2018-02-02
Target LOCK-N-STITCH
Sector Marine
Buyer(s) Wärtsilä
Deal Type Add-on Acquisition

Target

LOCK-N-STITCH

Turlock, California, United States
LOCK-N-STITCH, Inc. specialises in cast iron repairs, and its expertise will complement the service offering of the QuantiServ business line. By incorporating the technologies and skills of LOCK-N-STITCH into the QuantiServ products portfolio, customers operating multiple brands can be offered a more comprehensive service. Furthermore, LOCK-N-STITCH has experience in the application of 3D technology for repair services. The recent development includes utilisation of 3D scanners for scanning of broken parts and 3D design of tailor made replacement castings.

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Buyer(S) 1

Buyer

Wärtsilä

Helsinki, Finland
Category Company
Founded 1834
Sector Marine
Employees18,224
Revenue 6.0B EUR (2023)
DESCRIPTION
Wärtsilä's corporate headquarters in Helsinki.
Wärtsilä's corporate headquarters in Helsinki.

Wärtsilä is a provider of smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency, and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. Wärtsilä was originally established in 1834 and is based in Helsinki, Finland.

DEAL STATS #
Overall 32 of 34
Sector (Marine) 19 of 20
Type (Add-on Acquisition) 28 of 30
State (California) 1 of 1
Country (United States) 4 of 4
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-21 Trident B.V.

Terneuzen, Netherlands

Trident B.V. is a innovative underwater service supplier specialising in repair, overhaul, and maintenance of propulsion systems, hull, and machinery. With fully equipped workshops and certified personnel in the Netherlands, Italy, and Canary Islands, the company serves customers around the globe.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Transas

Portsmouth, United Kingdom

Transas is a provider of marine navigation solutions that include complete bridge systems, digital solutions and electronic charts. The company is also a leader in professional training and simulation services, ship traffic control, as well as monitoring, and decision-support tools. Transas leverages the latest advances in machine learning to create a unified cloud-based platform for managing operations across the entire marine ecosystem. The company has 22 regional offices worldwide and a distribution network that spans 120 countries. Its workforce of approximately 1000 employees includes a large and competent team of engineers who, together with Wärtsilä’s team, will accelerate the development of smart digital products.

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