Svanehøj acquires U.S.-based LNG specialist
By Jack Burke17 April 2023
Company notes ‘record year’ of LNG tanker contracts in 2022
Danish marine pump specialist Svanehøj has acquired California-based Complete Cryogenic Services (CCS), a specialist in the service and overhaul of submerged pumps on LNG tankers.
The number of LNG tankers globally has grown by around 40% in the last five years, and 2022 was a record year with more than 200 new contracts signed. That’s an attractive service and aftersales market, and Svanehøj said it is determined to gain market share. This marks the third company acquisition in just over two years.
CCS in Tustin, California, with more than 30 years of experience in the service and overhaul of submerged cargo, spray, and high-pressure pumps for cargo containment systems on LNG tankers.
Søren Kringelholt Nielsen, CEO of Svanehøj, said CCS is a well-known and recognized company that will strengthen the company’s efforts to become the leading service provider of inspections, service, and calibration of cargo equipment in the LNG segment. At the same time, the acquisition is an investment in knowledge and know-how that will help the company develop new products and services for the energy transition of shipping.
Svanehøj said it has invested significantly in its service solution business through acquisitions of FORCE Technology Marine Equipment Service (2020) and Wärtsilä Tank Control Systems (2022), as well as the establishment of a 1600 sqm service and repair shop in Singapore (2021). With the acquisition of CCS, Svanehøj Service Solutions is now located on three continents with just under 100 employees, almost a tenfold increase in four years.
With the acquisition of CCS, Svanehøj said it will also be able to re-engineer critical spare parts for all pump types. Morten Christian Larsen points out that it is essential to Svanehøj’s strategy of supplying high-quality spare parts for other brands’ equipment.
CCS becomes an independent part of Svanehøj Service Solutions and will be named “Svanehøj CCS - Complete Cryogenic Services”. The company’s nine employees will continue to work in their current roles with Henry Smith IV as director. He sees obvious synergies in bringing decades of experience with submerged LNG pumps into Svanehøj’s growing service business.
Following the acquisition of CCS, Svanehøj employs 320 people and has activities in Denmark, the UK, France, Singapore, China, Japan, and the USA.
Svanehøj was founded in 1928 by F. Dam – a Danish marine engineer who, after many years at sea, decided to go ashore to use his experience to develop pumps for the marine industry.
Today, Svanehøj designs and manufactures specialized pumps for vital applications within fuel, cargo (gas, P&C), and offshore, as well as high-end measuring systems for LNG and LPG tanks on ships and land-based terminals. Svanehøj is also a leading provider of inspection, servicing, and calibrating cargo equipment on gas and P&C tankers.