US-based maritime defence supplier Fairbanks Morse Defense (FMD) has entered into an agreement to wholly acquire Vestdavit, a Norwegian supplier of advanced davit systems. FMD will acquire 100 per cent of Vestdavit’s equity from its existing four owners.
The acquisition is intended to provide Vestdavit with a stronger commercial platform to drive growth and expand globally across its core naval and offshore energy markets.
FMD stated that it regards Vestdavit as a key platform for its own European expansion. Following the acquisition, Vestdavit will continue to be developed as a standalone business.
Vestdavit CEO Rolf Andreas Wigand commented, "Having seen tremendous growth in recent years, we are now embarking on a new chapter by integrating Vestdavit into a larger entity that can provide the resources to realize our ambitions."
Founded in Bergen, Norway, in 1982, Vestdavit remarked that it has experienced record growth recently, driven by product development and an expanded manufacturing facility in Poland.
The company achieved record sales for the third consecutive year in 2024, with order intake reaching NOK380 million ($36 million).
