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MacGregor buys mooring business

Cargotec's MacGregor has entered into an agreement to acquire Aker Solutions' mooring and loading systems unit for an enterprise value of approximately EUR180 million.

Cargotec's MacGregor has entered into an agreement to acquire Aker Solutions' mooring and loading systems unit for an enterprise value of  approximately EUR180 million. 

The unit, known by the Pusnes brand name, provides mooring equipment, loading and offloading systems as well as a wide range of deck machinery for the global offshore and shipping markets.

The Pusnes business was founded in 1875, and is headquartered in Arendal, Norway.

In 2012, the unit had sales of about EUR130 million and EBITDA of EUR20 million. The unit employs about 370 people with main facilities in Norway, UK and Korea.

The acquisition is subject to regulatory approvals from competition authorities and it is expected to be completed in the first quarter of 2014.

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