Aker Arctic Technology and Bluetech Finland will both transfer to the ownership of the Arctic Marine Technology Group, an entity established for the purpose of owning the companies.
Arctic Marine Technology Group is owned by Finnish Industry Investment (Tesi) and ABB, the current shareholders of Aker Arctic.
“The merger of two top players in ship design into the same group will strengthen Finnish icebreaker expertise and the growth opportunities of the maritime industry,” said Jussi Hattula, Director of Industrial Investments at Tesi.
"Together, Aker Arctic and Bluetech will form a globally significant player capable of meeting the unprecedented opportunities in the icebreaker business."
“Aker Arctic’s operations are centered around our highly specialised expertise in icebreaker design," added Aker Arctic Managing Director Mika Hovilainen.
"We are targeting growth in the North American market, among other regions, and transfer of Bluetech to the ownership of a common parent company is an essential step supporting this objective.
"Together, we will form a team of approximately 150 professionals focused on demanding ship design, with strong capabilities to execute significant and extensive design assignments – encompassing the entire design chain from concept design to basic and production design.”
In 2024, Aker Arctic’s turnover totaled over €15 million ($17 million), and the company currently employs 56 professionals. Bluetech’s turnover amounted to approximately €8 million, and it has a total of 94 employees.
Aker Arctic’s current Managing Director, Mika Hovilainen, has been appointed the CEO of Arctic Marine Technology Group. He will also continue serving as Chief Operating Officer at Aker Arctic. Bluetech Managing Director Petri Hakulinen will serve as Bluetech’s Chief Operating Officer.
The transaction is expected to be completed by the end of August. The parties have agreed not to disclose the purchase price.
