Eitzen takes majority stake in Høglund Marine Solutions

January 23, 2023, by Jasmina Ovcina Mandra

Oslo-based Eitzen Group has become a majority shareholder in Høglund Marine Solutions, a compatriot provider of sustainable automation and energy solutions for the maritime industry.

Høglund designs and develops smart automation, energy, and digital solutions targeting the optimization of vessels’ operational performance to bolster reliance and have better control of emissions.

Its key solutions include integrated automation systems, digital solutions and hybrid propulsion technology.

“We are thrilled to welcome the Eitzen Group as majority shareholder in Høglund and are convinced that this partnership will unleash new opportunities for both organizations, as well as secure our continued strong presence in the shipping environment as the preferred supplier of quality systems within automation, control and energy solutions,”, said Børge Nogva, CEO Høglund Marine Solutions.

“Høglund is a strong brand, and as a supplier of quality automation and energy systems we consider them to be in pole-position for being a differentiator in shaping the future of shipping. We are very excited to become part of a strong team and humbled by the opportunity to play an active role in the board of directors going forward”, says Fridtjof C. Eitzen, CEO of Christiania Shipping, part of Eitzen Group.

The move follows the termination of HAV Group’s proposed takeover of Høglund Marine in October 2022.

HAV Group abandoned the transaction, after failing to agree on final terms of the acqusition with Høglund.

Some of the most recent equipment deliveries from Høglund include Fuel Gas Supply System (FGSS) and Fuel Control System on board Proteus Bohemia, the first in a series of four LNG-fuelled LR II 119,900 DWT crude oil tankers being built by Guangzhou Shipyard International on charter for Shell.

The company has also secured a contract with Jiangnan Shipyard and Babcock LGE to supply Integrated Automation Cargo and FGCS for six very large ethane carrier (VLEC) newbuilds owned by AW Shipping Limited.