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  6. Wartsila Acquires LOCK-N-STITCH

Add-on Acquisition • Marine

Wartsila Acquires LOCK-N-STITCH

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

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

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M&A Deal Summary
Date February 2, 2018
Target LOCK-N-STITCH
Sector Marine
Buyer(s) Wartsila
Deal Type Add-on Acquisition

Target Company

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 Overview 1

Buyer

Wartsila

Helsinki, Finland
Category Company
Founded 1834
Sector Marine
Employees18,753
Revenue 6.4B EUR (2024)
DESCRIPTION
Wärtsilä's corporate headquarters in Helsinki.
Wärtsilä's corporate headquarters in Helsinki.

Wartsila 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, Wartsila maximises the environmental and economic performance of the vessels and power plants of its customers. Wartsila was established in 1834 and is based in Helsinki, Finland.

Deal Context for Buyer #
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.

Buy -
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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