Wilhelmsen Ships Service entered into an agreement with Navadan to acquire 100% of the company, according to the company's release.
Completion of the transaction is subject to predetermined conditions and is expected to happen in the first quarter of 2023.
Navadan will retain its brand and operate as a fully owned subsidiary of Ships Service for the first period after the completion of the agreement. With Navadan bringing their vast knowledge, experience and ways of working to Ships Service, the two companies will together be able to offer tank- and cargo hold cleaning customers with a market leading offer.
Wilhelmsen Ships Service will continue to invest and build on both it’s current and existing offers to customers, making Ships Service the preferred maritime supply network for the world fleet wherever they might operate.