Norvestor IX SCSp has acquired Kongsberg Maritime's steering gear and rudder business to establish a new company, Neuver Maritime, focused on delivering reliable maneuvering solutions in the global maritime industry.

Information on the Target

Norvestor IX SCSp (“Norvestor”) has finalized an agreement to acquire the steering gear and rudder business from Kongsberg Maritime. This business, operating within Norway's esteemed maritime cluster, will transition into a new entity, committed to providing reliable maneuvering solutions for the global maritime industry, ensuring safe and efficient lifecycle operations through exemplary service, aftermarket, and spare part offerings.

The newly established company will uphold a legacy spanning over 70 years, dating back to 1953. It boasts a rich history with well-known steering gear brands such as Tenfjord and Frydenbø, affirming its solid standing within the maritime sector. Daily, more than 14,000 vessels worldwide depend on Kongsberg Maritime’s steering gears and rudders for safe and efficient navigation across oceans, canals, and harbors.

Industry Overview in Norway

Norway's maritime industry encompasses a broad range of activities, blending traditional shipping with cutting-edge technology and innovation. The country is recognized for its strong maritime heritage, suppor