Viking Life-Saving Equipment buys competitor - Trade Only Today

Viking Life-Saving Equipment buys competitor

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Marine and fire safety equipment manufacturer Viking Life-Saving Equipment A/S recently acquired Hygrapha GmbH & Co.

"The move sees the two former competitors joining forces to strengthen capabilities, with a strong strategic presence in Germany, where the deal will be a significant win for ship owners looking for global safety solutions," the companies said in a statement.

Terms of the deal were not disclosed.

"I see this move as the perfect match of two highly complementary players in the maritime industry," Viking CEO Henrik Uhd Christensen said in a statement. "Working together expands our network and competencies and is another step in our strategy to be the one-stop shop for maritime safety needs."

Hygrapha's president, Rüdiger Steinbach, will remain in charge in the German market, becoming managing director for Viking Germany.

"Both Hygrapha and Viking are widely recognized as leaders in safety equipment. But Viking's safety network and global resources are second to none, offering us new opportunities to expand our activities in Hamburg and beyond," Steinbach said in a statement. "I look forward to developing the business together and achieving new levels of growth."

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